Insights

Ethereum continues to underperform while majority of L1s outperform BTC

exchange68September 13, 2024

0 0 1 minute read

Definition

The L1 Native Token Returns vs. BTC highlight the relative price performance of large L1 native tokens versus bitcoin.

Quick Take

CryptoSlate analyzed that ETH/BTC broke down to its lowest price level in the past three months and continues to underperform against BTC.
Over the last fourteen days, layer-one tokens have outperformed BTC as a cohort, but Ethereum remains the worst performer.
Atom has outperformed BTC by 9.7%
Matic has outperformed BTC by 14.98%
SOL has outperformed BTC by 3.3%
DOT has outperformed BTC by 0.9%
BNB has underperformed against BTC by -0.9%.
ETH has underperformed against BTC by -4.45%.

Native Token Returns: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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