Within 30 minutes, on November 18, the price of Ethereum dropped 7.7% as Bitcoin also recorded an abrupt 6% drop. ETH saw a much sharper drop in the same period, sparking concerns regarding extreme volatility. Three key reasons likely caused Ethereum to see a more volatile drop than Bitcoin. The factors are thinner order book,…
Despite Ethereum being the backbone for the rapidly growing decentralized finance ecosystem, the cryptocurrency has been severely underperforming Bitcoin throughout the past few weeks. This underperformance comes as its price remains below its 2020 highs, while BTC is trading at the highest levels seen in the time following its parabolic uptrend in 2017. Although its…