Matrixport: Ethereum's Price Slumps Post-Merge, Investors Still Prefer Bitcoin

BlockBeats News, January 29th. Matrixport shared its market view, stating that since the completion of the merger in 2022, ETH's market performance has significantly lagged behind Bitcoin. Most of Ethereum's upgrades have had a limited boosting effect on ETH's price. Rather than being a significant positive development, it is more like a step-by-step preparation for the blockchain's move towards widespread adoption.

Wall Street's interest in an Ethereum ETF has also been consistently inconsistent. At the same time, Ethereum faces significant pressure in dealing with emerging market trends. For example, an increasing number of users are more inclined to issue meme coins on blockchains with lower costs. However, Ethereum still has its bright spots, such as the issuance of the USDT stablecoin. Although Tron has lower transaction fees, the recent issuance of USDT on Ethereum has surpassed Tron, demonstrating a certain advantage.

Overall, Ethereum still faces many challenges in further consolidating its market position and value proposition.