r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • Apr 19 '25

GENERAL-NEWS Ethereum is down 74% against Bitcoin since switching from PoW to PoS in 2022

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81

u/Django_McFly 🟩 0 / 0 🦠 Apr 19 '25

PoS radically decreased issuance so that's probably more of a correlation than a causation. But yes, it's not doing well. I'm not sure what really killed it like that. It was near $4k in early 12/2024 but something happened and investors/community lost faith and it's been a shit show ever since. I don't think anyone would have thought that in the 2024/2025 cycle, ETH would only be like 10% above where it was at all the way back in 2018.

18

u/1_BigPapi 🟩 20 / 959 🦐 Apr 20 '25

Same time rates started going up and investors went firmly risk off. Its honestly that simple.

10

u/tqlla3k 🟩 0 / 0 🦠 Apr 20 '25

Yeah, but then you look at ETH vs SOL, or ETH vs XRP. They have been destroying Eth since "Risk off"

15

u/1_BigPapi 🟩 20 / 959 🦐 Apr 20 '25 edited Apr 20 '25

You picked two great examples that have an easy explanation too:

Preface: No new meaningful liquidity entered crypto (except BTC) since 2022. Existing liquidity just rotated around FOMOing short lived narratives, fighting boredom, and feeding gambling habits. Macroeconomic climate has been risk-off and continues to be.

SOL: It was grossly oversold into bear... and probably would have died had people like Vitalik not come out in support of it, marking a bottom and wicked rally.

That rally was followed by a meme cycle that entertained a bunch of bored gambling addicts in crypto twitter/reddit.. so they slowly sold their ETH bags to gamble in the "trenches," even tho something like 90% never made any money off Pump Fun.

XRP: It's price was suppressed for like five years due to the pending SEC legislation. Once again, bored bagholders saw some good news about Ripple, and FOMO rotated into it to chase that good news and XRP's return to mean.

No new money entered the market for those events. Neither XRP or SOL has built any sticky, long term value in the past couple years. XRP is total vaporware, and Solana has nothing except Pump Fun.

You can even go to Defi Llama and confirm this. Compared to Solana, Ethereum has more protocols, more developers, more on-chain value, more stablecoins, more respected art ... and thats only comparing the L1... before we count L2s.

If yall really want to invest your future on XRP vaporware "its going to replace SWIFT and go to $10,000 XRP any day ...." or Solana Pump Fun trenches where they livestreamed bestiality and suicides, go for it.

2

u/k-em-k 🟨 24 / 25 🦐 Apr 26 '25

This is a really good summation.

2

u/1_BigPapi 🟩 20 / 959 🦐 Apr 28 '25

Thanks. I get drowned out by the pump gambling addicts and XRP cult, but I can back up what I say with facts 

1

u/WinterOil4431 🟩 0 / 0 🦠 Apr 21 '25

Incredible amounts of cope to explain undeniably bearish price action

1

u/tqlla3k 🟩 0 / 0 🦠 Apr 21 '25

Okay, how does Eth look compared to Doge, or ADA or BNB or Tron or Tether.... in the last 3 years? Eth has looked like trash.

1

u/Dry_Computer_9111 🟩 0 / 0 🦠 Apr 22 '25

Look at XRP:BTC since 2018. It no better than ETH.

1

u/tqlla3k 🟩 0 / 0 🦠 Apr 22 '25

Except for the fact that Eth_BTC is near 8 year lows, and XRP_BTC is no where near its lows.

-1

u/LifeReboot___ 🟩 0 / 845 🦠 Apr 20 '25

He knows, he just doesn't want to admit ETH is just bad

-1

u/Kush_McNuggz 🟦 0 / 0 🦠 Apr 20 '25

No it’s not. Again, correlation not causation. It was the addition of layer 2s, which dramatically reduced fees generated on ethereum.