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ethereum (eth) has seen a welcome price rebound over the past week, finally surpassing bitcoin (btc) in the eth/btc pair after weeks of underperformance.
This renewed strength appears driven by positive fundamentals and a broader resurgence in the altcoin market.
As such, some investors are now exploring ERC-20 tokens as they diversify.
ethereum outperforms bitcoin
The eth/btc pair measures the value of ethereum denominated in bitcoin rather than a fiat currency like the US dollar.
Tracking this ratio gives an idea of how ethereum is performing against the crypto market leader.
After weeks of bearish momentum, eth/btc is up nearly 7% over the past two days to hit 0.054.
This marks a significant change that suggests that trader and investor sentiment is finally turning bullish again on ethereum, relative to bitcoin.
eth has been well behind bitcoin for quite some time, with eth/btc trending steadily downward since September 2022.
However, the rejection of the 0.05 token level likely indicates that ethereum could begin to gain market share.
According to CoinMarketCap, eth trading volume skyrocketed 32% in the last day.ethereum/” target=”_blank” rel=”noopener”> reach 15.5 million dollars.
This suggests that traders are actively engaging in eth-based transactions, likely driven by renewed confidence in the token's prospects.
Several catalysts converge to fuel ethereum breakout
ethereum's renewed strength against bitcoin appears driven by a combination of growing institutional interest.
The prospect of an SEC-approved spot eth ETF in 2024 has sparked a surge of interest from institutional investors, with ethereum products. seeing record weekly inflows of over $30 million.
This early buying ahead of a possible ETF launch suggests that many traders are positioning themselves for an ethereum breakout.
At the same time, network revenues and feesethereum/revenue-share” target=”_blank” rel=”noopener”> have soared to 180-day highsexceeding 2.9 billion annualized dollars.
Increased activity has made ethereum deflationary again for the first time in weeks, reducing the circulating supply of eth.
Between growing adoption and deflationary tokenomics, ethereum has finally gained some ground against bitcoin.
ERC-20 chips to watch
With ethereum's momentum growing, traders may be wondering which ERC-20 tokens could break out soon.
Below are two tokens worth watching closely as eth rises.
bitcoin ETF Token Opportunities
The recently releasedcrypto-news.care/?referrer=ethereum-price-bounces-ethbtc-finally-outperforms-bitcoin—best-erc20-tokens-to-watch” target=”_blank” rel=”noopener”> bitcoin ETF Token offers a way to speculate on the market impacts of the approval of a bitcoin spot ETF in the US.
The platform's tokenomics aligns with developments in bitcoin ETFs.
BTCETF is deflationary and total supply will burn by up to 25% over time as important approval milestones are reached.
With the market fully expecting the SEC to approve a btc spot ETF in early 2024, speculation has reached a fever pitch.
BTCETF allows investors to gain exposure to this narrative while receiving rewards via built-in betting protocol.
The pre-sale of the bitcoin ETF token has already raised over $3 million.
At the end of the pre-sale, BTCETF will launch on multiple DEXs to provide decentralized access.
According the project technical documenteach on-chain transaction will also burn 5% of the tokens traded, adding to deflationary pressure.
TG.Casino aims to reshape gaming
crypto-news.care/?referrer=ethereum-price-bounces-ethbtc-finally-outperforms-bitcoin—best-erc20-tokens-to-watch” target=”_blank” rel=”noopener”>TG.Casino brings the crypto gaming experience to Telegram with its fully licensed platform offering live gaming, slots and sports betting.
With zero know-your-customer (KYC), TG.Casino simplifies onboarding so players can access hundreds of games.
TGC, its native token, powers this ecosystem, allowing holders to place bets on various games and receive a 25% refund on losses.
This not only incentivizes demand for TGC but also protects risk-taking players.
TGC also offers betting returns of 169% annually, with more than 23.3 million tokens already locked.
The pre-sale of the project has already attracted more than $3.6 million in funding, with investors purchasing TGC for $0.18 in the current phase.
TG.Casino also has more than 10,500 assets Telegram community members.
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