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Ethereum’s value has dipped relative to Bitcoin and Solana, reaching multi-year lows, leading to concerns about the future of Ether, with critics suggesting a potential demise on various social media platforms.

 

Bulls supporting Ethereum on Crypto X find themselves defending against criticism as the price of Ether (ETH) lags behind Bitcoin (BTC) and other robust altcoins in recent times.

 

The Ethereum to Bitcoin price chart, indicating the value of 1 Ether compared to 1 Bitcoin, temporarily dropped below 0.05 BTC on December 20, marking its lowest point in two years (since April 28, 2021), as reported by CoinMarketCap. While the ratio reached a peak of 0.087 BTC on September 12, 2021, during the previous bull market, it has been on a downward trend since then. Starting at 0.072 at the beginning of 2023, the ratio has continued to decline.

 

Critics on social media are attributing this decline to Ethereum’s transaction fees, suggesting that the higher fees have made alternative chains with lower fees more appealing to cryptocurrency users.

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