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ToggleETH/BTC exchange rate hits 18-month low
The lively Ethereum ecosystem in the cryptocurrency market seems not to be felt recently. Data shows that the exchange rate price of the ETH/BTC trading pair once fell below $0.5 today (as low as 0.4977), setting a new low in 18 months, approaching the low in June 2022.
On-chain whale liquidate positions
According to the whale shared by the , the whale took the initiative to repay 92 WBTC, and currently there are still 1,463 WBTC to be repaid.
On the other hand, according to information shared by on-chain analyst Yu Jin, a certain whale recently closed its leveraged position on the Ethereum chain, sold a large amount of Ethereum, paid off all on-chain debt, and transferred all US$35.78 million into Binance exchange makes people wonder whether this whale is planning to leave Ethereum and move to other ecosystems.
Will Ethereum be phased out?
The weak trend of Ethereum has led to more and more voices in the community "abandoning Ethereum and moving to other ecosystems". Even Messari's latest research report believes that compared with Bitcoin and other new public chains, Ethereum is relatively unattractive. Power and cost performance.
"Can Ethereum maintain its dominance?" has even triggered heated discussions in the community. Many supporters of new public chains such as Solana believe that Ethereum has become the tear of the times and will be surpassed in the next bull market. .
Over the years, I have heard the slogans "Beyond Ethereum", "Ethereum is dead", "Eliminate Ethereum", and "Ethereum killer" countless times. It seems that someone wants to kill Ethereum every cycle, but looking back now , Ethereum continues to innovate and grow in every cycle. There are still a large number of people in the community who firmly believe that Ethereum will continue to maintain its leading position. As dForce founder Yang Mindao said, it is probably too early to talk about "transcendence".
