ETH/BTC: Tuur Demeester Registers Surprising Pattern

ETH/BTC, the ratio between Ethereum's value and Bitcoin's value, fails to recover from a multi-year downtrend. Seasoned Bitcoiner Tuur Demeester, author of Bitcoin Reformation theory, noticed that this crucial indicator lost over one third of its value in two years.The ETH/BTC metric is 27.9% down in 12 months, Tuur Demeester noticed in his recent thread on X . This is the result of a prolonged downtrend: In two years, Ethereum lost 36.4% against Bitcoin .

He recalled that Ethereum managed to replace PoW with PoS 18 months ago, in mid-September 2022. After this game-changing upgrade was activated, Bitcoin became the only major cryptocurrency leveraging the proof-of-work consensus.Buterin recalled that PoW always was nothing but a"temporary stage" before migration to proof of stake, which replaced mining with staking as a way to secure blockchain consensus.

Followers of Demeester indicated that this metric can be different should we zoom out. For instance, on a 10-year time frame, it would demonstrate 76,000% growth instead of a 36.4% decrease.Solana Meme Coin Penguiana Raises 800 SOL In The First 7 Days Of Presale, Set To Release P2E Game Demo Next Month

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Source: Digital Coin News (digitalcoinnews.net)

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