Despite Ethereum’s ($ETH) recent underperformance against Bitcoin ($BTC), many ETH holders continue to endure unrealized losses, with current metrics mirroring the early 2020 market bottom. While this may seem like a setback, it could present an opportunity for long-term believers in Ethereum’s potential. ETH-BTC NUPL hits a 4-year low. Despite #Ethereum’s underperformance against #Bitcoin, ETH holders endure losses without realizing them. This mirrors levels from its early 2020 bottom. This might be an opportunity for ETH believers. pic.twitter.com/NhoEfkp0r8 — Ki Young Ju (@ki_young_ju) November 20, 2024 CryptoQuant CEO Ki Young Ju suggests Ethereum’s future hinges on the revenue Web3 applications
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