Ether Faces Growing Investor Unease As ETH Deposits Surge

Ether holders are feeling increased pressure as recent market activity reveals. In the past week, a significant 312,183 ETH, valued at approximately $751 million, has been moved to exchanges.

This move suggests rising uncertainty among investors about the future of Ethereum.

Ether holders are facing increased pressure. In the past week alone, 312,183 $ETH (worth $751M) has been deposited to exchanges, signaling growing uncertainty among investors. pic.twitter.com/CjuldGcJ3j

— IntoTheBlock (@intotheblock) September 6, 2024

Since The Merge in September 2022, Ethereum has seen a notable drop of 44% against Bitcoin. The ETH/BTC ratio has fallen to 0.0425, its lowest level since April 2021. This decline reflects a broader trend of Ethereum lagging behind Bitcoin in terms of value and investor confidence.

#Ethereum is down 44% against #Bitcoin since The Merge in Sept 2022.

ETH/BTC is now at 0.0425, the lowest since April 2021. pic.twitter.com/ogPk0SqEmB

— CryptoQuant.com (@cryptoquant_com) September 6, 2024

Currently, Bitcoin is priced at $56,500, while Ethereum stands at $2,390. Looking at historical highs, Bitcoin reached a peak of $73,700, which is 30.4% higher than its current value. Meanwhile, Ethereum’s all-time high was $4,870, representing a 103.8% increase from its current price.