Ethereum

Bitcoin

Million

Billion

Chains

<div class="watcher-guru"> 
 <p>Ethereum’s value against Bitcoin has been shrinking. The <a rel="noopener noreferrer nofollow" title="ETH/BTC" href="https://thebittimes.com/tag/eth-btc.html">ETH/BTC</a> pair has been creating lower lows of late. In fact, a few hours ago, it created a low at 0.05981, a level last registered 14 months ago, in July 2022. Alongside, Ethereum’s <a rel="noopener noreferrer nofollow" title="dominance" href="https://thebittimes.com/tag/dominance.html">dominance</a> has also been losing luster. From standing close to 21% in June, the number has been hovering around 18.5% over the last couple of days.</p> 
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  <img decoding="async" width="1024" height="518" src="https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp" alt class="wp-image-112853" srcset="https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 1024w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 300w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 768w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 1536w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 380w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 550w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 800w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 1160w, https://cdn.thebittimes.com/images/2023/09/21/1cd10f338b0ee2365df7ab7013290c09.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    ETH/BTC, ETH.D by TradingView 
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 <p><strong>Also Read: Ramaswamy’s Crypto Framework is 75% Ready: To Release by Thanksgiving</strong></p> 
 <p>Crypto Analyst and Founder of IntoTheCryptoverse, Benjamin Cowen, asserted in a recent post on X [formerly Twitter] that he expected a more significant move to the downside going forward.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">“A more significant move to the downside…”<br>📺https://t.co/iuq2iTBFaI pic.twitter.com/J1x7qgYDRJ</p>— Into The Cryptoverse (@ITC_Crypto) September 19, 2023 
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 <p>Amid this, <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> adoption and accumulation have taken a hit. The latest data from Glassnode revealed that the number of addresses holding 0.1 or more coins dropped to 5,138,008. In effect, it ended up creating a 4-month low.</p> 
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  <img decoding="async" width="1024" height="512" src="https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp" alt class="wp-image-112854" srcset="https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 1024w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 300w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 768w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 1536w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 380w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 550w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 800w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 1160w, https://cdn.thebittimes.com/images/2023/09/21/05197ce0369d2408a777903b4820bc57.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Glassnode 
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 <p><strong>Also Read: BitBoy Raises $50000 in 5 Hours: Crypto Community ‘Pissed’</strong></p> 
 <h3 class="wp-block-heading" id="h-ethereum-vs-private-chains">Ethereum vs. Private Chains</h3> 
 <p>Even though the aforementioned developments might seem pessimistic, several in the space have recently voiced their support for Ethereum and how things could improve going forward. Big Four accounting firm Ernst &amp; Young’s Global Blockchain Leader, Paul Brody, pointed out that builders are falling behind the curve by choosing to develop projects on other self-created ecosystems. In fact, they are gatekeeping adoption by doing so. However, Ethereum has the potential to drive mainstream adoption for crypto projects by big banks. Retrospectively, that could rub off well on <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>’s adoption over the long term. Specifically, Brody posted, </p> 
 <p><strong>“Lots of people “explaining” they’re dabbling with permissioned chains. Nobody is talking about how badly behind they will be when crypto-natives build on public Ethereum and the big banks realize their private chains don’t drive adoption.”</strong></p> 
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  <img decoding="async" loading="lazy" width="1024" height="554" src="https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp" alt class="wp-image-112847" srcset="https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 1024w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 300w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 768w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 380w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 550w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 800w, https://cdn.thebittimes.com/images/2023/09/21/dfd227d79a7d46b4831ba04248488308.webp 1142w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: The Cryptonomist 
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 <p><strong>Also Read: Binance.US Trade Volume Drops 99% From $5 Billion to $40 Million</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>dominance</li> 
  <li>ETH</li> 
  <li>ETH/BTC</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-drops-to-14-month-low-against-bitcoin-dominance-dips-to-18-tbt63488.html">https://thebittimes.com/ethereum-drops-to-14-month-low-against-bitcoin-dominance-dips-to-18-tbt63488.html</a></p>

Ethereum Drops to 14 Month Low Against Bitcoin: Dominance Dips to 18%

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