ethereum price surpassed $3,000 on February 20, eclipsing bitcoin's 22% growth; The eth 2.0 staking deposit trends seen this week suggest the gap could widen further.
The media frenzy surrounding the approval of the bitcoin ETF caused the price of btc to outperform eth in the early days of the 2024 market rally. However, this market trend has changed since early February.
As investors place long-term bets, bulls can take advantage of growing eth 2.0 deposits and declining market supply to fuel a rally above $4,000.
ethereum Outperforms btc Despite Record ETF Inflows
bitcoin has dominated the media headlines in recent weeks and rightly so. Since the US Securities Exchange Commission (SEC) approved bitcoin ETFs on January 11, btc has received unprecedented interest from institutional inflows.
As of February 19, after just six weeks of trading, the 10 newly launched ETFs had acquired more than 654,000 btc, worth more than $36 billion. Despite record btc ETF inflows, eth price performance has managed to outperform btc.
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