Opinion: ETH underperforms BTC this year as L1 chain gas fees remain at yearly lows and activity shifts to L2 and Solana

Odaily News Delta Exchange CEO and co-founder Pankaj Balani said in an email: "The market has digested the news of the listing of the Ethereum spot ETF as ETH/BTC has been in a downtrend range since the announcement in May. The market expects that the inflow of the Ethereum spot ETF will not be as large as the inflow of the Bitcoin spot ETF. ETH has lagged behind BTC this year as the gas fees of the ETH L1 blockchain are still at yearly lows and activity has shifted to Ethereum L2 and Solana." (CoinDesk)