Was Ethereum | Crypto

Ethereum has failed to remain deflationary since the switch to Proof-of-Stake, as ETH's price has disappointed Ether investors, particularly against Bitcoin. Ether (ETH) has dropped roughly 65% against Bitcoin (BTC) since Ethereum’s 2022 shift to Proof-of-Stake (PoS), casting doubt on the network’s “ultrasound money” thesis. Key takeaways: Lower fees and L2 growth have weakened Ethereum’s deflationary “ultrasound money” pitch. Read more