The crypto market has seen a significant increase in the value of Ethereum (ETH) in recent days. As of March 21, the price of ETH has risen from $1,760 to $1,820. Meanwhile, Bitcoin (BTC) has remained steady after a surge in the past few days.
Ethereum’s price saw a notable surge to $1,820, followed by a minor correction. Bitcoin, on the other hand, maintained its new high of $28,000 after going bullish.
The value of ETH against BTC had been decreasing since March 12, when the traditional finance (TradFi) sector began to face a crisis. There is no specific event that triggered the sudden surge of ETH.
The ratio of BTC per ETH rose from 0.072 to 0.062, equivalent to $280. Today, it changed to 0.064, which may signal the beginning of a recovery phase.
Bitcoin has been the primary crypto asset for market speculators and investors running out of banking. Its high position may be because it is the most recognized crypto asset integrated into the general financial system.
Overall, this latest update shows Ethereum outperforming Bitcoin in terms of growth and value. However, it is worth noting that the crypto market is volatile and unpredictable, and there are always risks associated with investing in cryptocurrencies. As always, investors should exercise caution and do their research before making any investment decisions.
