Grayscale: Ethereum's rebound should be seen as evidence of further recovery in the cryptocurrency market.

BlockBeats reported on December 28th that Grayscale, a cryptocurrency investment firm, stated on social media that ETH produced strong returns (over 80%) in 2023, but performed worse than BTC and some other smart contract blockchain tokens. The ratio between the ETH and BTC price indices recently reached the lowest level since mid-2021. In fact, the gains of most smart contract platform tokens this year have been lower than Bitcoin, and ETH is basically in line with this group. The FTSE Grayscale Smart Contract Platform CryptoSector Index rose by about 94% in 2023, only slightly higher than the increase in ETH. Although ETH lagged behind Bitcoin and some other cryptocurrencies in 2023, it still outperformed traditional asset classes. Therefore, we believe that the rebound of ETH should be seen as evidence of the expansion of cryptocurrency recovery.