Ether Disappointment Has Bitcoin Gaining Share During Downturn

Ether is ceding ground to market bellwether Bitcoin with investors seeking refuge in the most widely-held digital asset while the recent downturn in crypto prices deepens.

The second-largest digital currency by market value has slumped around 18% since June, while Bitcoin was down around half that amount during the same period. Ether dropped as much as 5.4% to $1,639 on Monday, and the original cryptocurrency slipped as much as 2.3% to $27,290.

That has helped to reduce Ether’s percentage of the total capitalization of the $1 trillion crypto market to 17.8% from around 18.4% at the start of the year, ...