ETC Group: Expects the relative performance of ETH/BTC to likely reverse in 2024
According to a report from ETC Group, a cryptocurrency investment firm, there are bullish prospects for the ETH/BTC ratio. Despite Bitcoin's appeal to investors in 2023, Ethereum remains the dominant chain for decentralized applications, NFTs, and tokenized assets.ETC Group's data shows that the top 10 ERC-20 tokens have a market value of $21 billion, which is 13 times the total market value of over 37,000 BRC-20 tokens. Ethereum investors can earn additional rewards by staking ETH, with a current annualized reward rate of 3.84%. Ethereum's transaction fee burning mechanism produces a deflationary effect, which positively affects investors.ETC Group believes that Ethereum's strong position in the smart contract platform and the potential for additional returns make it a core holding in a diversified cryptocurrency asset portfolio, and predicts that the relative performance of ETH/BTC may reverse in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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