Understanding Why Ethereum Price is Lagging Behind Bitcoin in 2024
Wednesday, 11 September 2024, 15:49
Reasons for Ethereum's Lagging Price
The Ethereum price has faced considerable challenges in 2024, especially compared to Bitcoin. Here are the three primary reasons:
- Decrease in Daily Active Addresses: The current 30-day average shows 430,250 daily active addresses on the Ethereum network, a significant 7.7% decrease from the previous quarter.
- Market Sentiment: Broader market trends favor Bitcoin, with many investors prioritizing it over Ethereum.
- Technological Challenges: Ethereum continues to face hurdles in scalability and transaction costs that hinder its competitive edge against Bitcoin.
Market Outlook
As Ethereum seeks to adapt and innovate, monitoring these factors remains essential for investors. Understanding the current trends will help investors navigate future opportunities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.