Ethereum ($ETH) – Ethereum (ETH) / Bitcoin (BTC) ratio to reach 2022 before the merger

Ethereum ($ETH) – Ethereum (ETH) / Bitcoin (BTC) ratio to reach 2022 before the merger

The Ethereum ETH / USD to me Bitcoin Bitcoin / US Dollar The ratio reached its highest level in 2022 on Tuesday as the first phase of the merger came into operation.

what happened: Data from TradingView shows that the ETH/BTC ratio reached 0.084 for the first time since December 2021.

The ratio represents 1 BTC to the price of ETH and the higher value is indicative of how much ETH is outperforming BTC.

ETH outperformed the market-leading cryptocurrency and other major digital currencies on Tuesday after the Bellatrix upgrade was launched on the Beacon chain, signaling the start of a merger with Proof-of-Stake.

See also: Vitalik Buterin: The merger may not happen today but it is still an important day

The Bellatrix upgrade is the first phase of the integration which prepares the network for the subsequent transition.

Bitcoin dominance also reached an all-time low in the weeks leading up to the merger, analysts at Arcane Research recently noted. Report.

“September started with mixed returns among our indices. Bitcoin started the worst month and fell 1%. All other indices are in positive territory, with uppercase 1%, lowercase 2%, and mid-case 7%,” the report stated.

price movement: At press time, ETH is trading at $1,511, down 7.76% in 24 hours according to data from Benzinga Pro. BTC was trading at $18,710, down 5.38% over the same period.

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