Is Ethereum Gearing Up For The Moon While Bitcoin Rests From Wild Ride?

Ethereum has outperformed Bitcoin quite a few times in recent weeks, and it’s not just the charts that are signaling something from the world’s second-largest cryptocurrency, as ETH exchange-traded funds (ETFs) are also on the move.

Bitcoin appears to be taking a rest from the multiple spikes since the 2024 U.S. elections, and Ethereum may be taking advantage of BTC’s ups and downs to prepare for its own trips to the moon.

$BTC Loses Out on 7-Day Rally

In terms of pricing gains, ETH has already lost the fight years ago, but in terms of performance, it’s a different story altogether.

Whereas Bitcoin has been down by 0.8% in the last 14 days, Ethereum gained 15%. While BTC increased 2.7% in the past seven days, ETH added 9%, highlighting the contrast in charts between the two “rivals.”

Bitcoin’s 7-day chart also shows that it has been more volatile than Ethereum in the last three days. In contrast, ETH’s 7-day chart appears to be on a “build-up” track.

Several crypto users agree that Ethereum’s recent moves signal that it is preparing for “a potential rocket launch,” a term used in the community to describe a digital asset’s significant surge.

One analyst believes the digital currency can repeat the “impulsive breakout” that it did during the 2016 through 2017 season and expects the coin to “shoot to new ATH very quickly.” ETH’s all-time high was at $4,878, set back in November 2021.

Prominent crypto advocate Momin Saqib noted that Ethereum is “getting more attractive for institutions,” referring to the nine-day positive flows that spot ETH ETFs had.

$ETH ETFs Hit New Record

Thursday was a big day for Ethereum ETFs. The funds hit a record-high of $428.5 million in total net flows amid a nine-day streak of positive inflows, as per data from Farside Investors.

Since getting approved for trading in July, ETH ETFs have had a much more gradual growth movement compared to spot Bitcoin ETFs. There were times when people doubted whether there was actual interest in the funds.

By the end of November, interest picked up significantly, indicating that institutions may be noticing how Ethereum is on a steady, albeit slow, uptick trend.

Altcoins on the Move

Technically, Ethereum is an altcoin (alternative crypto coin) too, and it could well be moving in a similar manner to other major alts such as XRP, JasmyCoin (JASMY) and TRON’S TRX.

The said cryptocurrencies have made waves in recent days amid their uptrend. Some took years to hit new milestones, and Ethereum just may be gearing up for its own feats in the coming weeks or months.