During the ongoing cycle, BTC and ETH have witnessed a growing divergence in their respective performances.
The same cannot be said for Ethereum, which has failed to replicate this trend so far. The leading altcoin hasn’t even surpassed its 2021 all-time high level yet. As such, Bitcoin’s Short-Term Holder Realized Cap is nearly at the same level as the peak of the last bull run, while Ethereum’s STH-Realized Cap has barely risen from its lows, indicating a notably lackluster influx of new capital.
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