Crypto Investor Exodus Weighs Heavier on Bitcoin Also-Ran Ether

Ethereum was promoted as Bitcoin 2.0 by many early advocates because the programmable aspects of the blockchain network allowed users to do more than just make peer-to-peer payments. It also led to scores of predictions that the Ether token would surpass Bitcoin in overall value.

More than a decade later, the long-forecast “flippening” in market value has failed to materialize, with Ether becoming an eternal also-ran to Bitcoin. One consequence is that Ether has tended to do worse than Bitcoin during periods such as during the current market downturn because of lower liquidity.

Ether has stumbled almost 60% since its ...