Trading ETH as a stand-alone unit is a reversal of ETH-BTC history.

The controversy surrounding ETHer's (ETH) rapid transitions to a single device has been around for some time. However, over the past few months the concept has received more and more prominent points, and the best evidence is that ETH versus BTC has seen significant growth since October 1.

In early November, the monthly value of the BTC / ETH trading pair fell to 60%, the lowest of a ten-year currency pair. Additionally, since the start of the year, BTC has risen 105%, while ETH has increased 505%.

The best indicator of ETH management is that the ETH / BTC currency pair continues to rise even as the market drops completely in December. Although BTC fell below $ 50,000, the price of the ETH / BTC pair continued to rise, rising sharply by around 13%, hitting a three-year high.

"Reverse" story

The above activities (ETH can create a variety of free markets that support Bitcoin) have already been announced in an interview with the research center of the cryptocurrency exchange Binance, given that the ETH / BTC looks like a throwback only in the bullish industry. said Cointelegraph. special. “This does not mean that ETH has been separated from BTC, but it clearly proves that not all altcoins are involved in BTC,” he added.

"It must be recognized that ETH can no longer be considered an altcoin, but is a symbol with unique characteristics. The main drivers of its recent rise can be attributed to the development of meta-universes, to the descriptions of GameFi and NFT, but Ethereum east, it is the basis of all this development.

Although ETH is not totally excluded from BTC, the expert said that such a deal can no longer be seen as a vain dream. With the new app and the adoption of Ethereum, all descriptions have started to change.

In addition, analysts believe a similar situation may occur for the other best results. "Like traditional tokens, there is no difference between BTC and altcoins, but the value of all tokens itself is determined by risk and risk."

Igneus Terrenus, communications manager at the Bybit cryptocurrency exchange, told Cointelegraph that in the final analysis, the value of the digital asset is determined by its sponsors and agents doing business. After more than six years of development and multiple smart contracts developed by Ethereum (including applications related to emerging environments such as DeFi and NFT), high-value altcoins are now available. has established an independent and community independent ecosystem of BTC. the past. “The recession is still there, but now there is enough difference to maintain independence from the price movement,” Terrenus added.

"As the population of BTC and ETH camps continues to grow, we can expect their actions to be more diverse."

ETH has a unique place in the industry.

Netta Korin, co-founder of Orbs, a public blockchain infrastructure, told Cointelegraph that ETH has maintained an uptrend since October 1 and continues the story of Bitcoin's overshoot for the near future. As most other cryptocurrencies continue to highlight BTC, he said Ethereum has proven to be a "flame service provider for DApps."

Korin added that Ethereum has long overtaken Bitcoin as the most widely used blockchain and outperformed BTC in the aftermath of the cold snap. He added that future Eth2 reforms "would improve demand".

The new equipment and demand for Ethereum and its status as a leading financial infrastructure, along with the key pillars of popular companies such as MakerDAO and Uniswap, make ETH and BTC distinct capabilities. a real nature. "

Korin also pointed out that Ethereum is a key player in DeFi and a key platform in the operation of NFTs. Additionally, ETH can serve as a hedge against inflation due to its integration with DeFi and NFT markets. According to him, these two regions will experience exponential growth in 2021. “By market capitalization, ETH is expected to overtake Bitcoin and become the best cryptocurrency,” he concluded.

Can ETH decide on BTC?

If the ETH cut is wrong and the ETH / BTC pair starts to rise, will this affect the upside BTC potential? Regarding this issue, a member of the Binance Research Center pointed out to Cointelegraph that it is not yet certain whether this improvement could lead to a complete breakout of BTC if the spread of the ETH / BTC currency pair continues on its path. current. . He underlined:

“Large traders will continue to buy BTC no matter how badly they appear in the photo or other tokens. They do so because BTC is still the leader and the market leader. BTC is the number one source. for storage.-Cause and prevention Preventing continued inflation contributes to this situation.

However, Binance analysts admit that, given elsewhere, they still expect retailers and businesses to quickly increase their ETH risk at the same time. .

The growth of the Ethereum market has not been ignored by the major global financial firms, US giant JPMorgan Chase argued in a recent report that ETH may be a better option as BTC for investors, in especially with regard to digital assets. Improvement According to company analysts, ETH has risen five times against BTC last year, making other cryptocurrency markets nearly half of Bitcoin.

Another aspect of ETH that gives hope to many entrepreneurs is that the network can grow dramatically in the Web 3.0 ecosystem. No one can say for sure how the area will change, but ETH will benefit from most of the costs associated with Web 3.0 distribution going forward.

Finally, the recent London upgrade used by the Ethereum network will continue in August 2021, changing the way the GAS value of ETH is calculated, effectively eliminating all ETH costs and creating all supplies of altcoins. we are reducing. Numerically, this reduced the annual increase in the ETH rate from ~ 4% to ~ 3%.

In addition, ETH's policy of permanent financial exchanges is to convert assets into loss, making them more attractive to long-term employees and bank accounts. There is therefore reason to believe that the concept of ETH as an independent asset would be further promoted.