Grayscale: Ethereum’s rebound should be seen as evidence of further crypto market recovery

Odaily News Grayscale official posted on social media that ETH generated strong returns (more than 80%) in 2023, but its performance lagged behind BTC and certain other smart contract blockchain tokens. The ratio between the ETH and BTC price index recently reached its lowest level since mid-2021. In fact, most smart contract platform tokens have gained less than Bitcoin this year, with ETH largely in line with this peer group. The FTSE Grayscale smart contract platform CryptoSector Index rose by approximately 94% in 2023, only slightly higher than ETH’s growth. Although ETH lags behind Bitcoin and certain other cryptoassets in 2023, it still outpaces traditional asset classes. Therefore, we believe that ETH’s rebound should be viewed as evidence of a broadening crypto recovery.