May 16, 2024

The ether-bitcoin ratio has slid to 0.04563 on crypto exchange Binance, the lowest level since April 2021, according to charting platform TradingView.

Video transcript

The chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. The Ether Bitcoin ratio has slid to a three year low, extending year to date losses to nearly 16%. According to charting platform trading view, the slide to three year lows follows reduced demand for exchange traded products tied to Ether. According to Bloomberg data quoted by etc group in its weekly report, Global Ether Etps registered net outflows of around $63.5 million last week with Hong Kong listed exchange traded funds losing the most. Meanwhile, Bitcoin etps raked in $92.5 million. Several factors including competing layer ones and lingering uncertainty about the debut of spot e approvals in the US are likely responsible for e falling out of investor favor. That's it for today's chart of the day. I'm Jen Sasi. We will see you next time to unpack more of the data behind top news stories.

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