Matrixport: ETH is weak after the merger, and investors prefer BTC

Matrixport released today's chart saying that since the merger was completed in 2022, ETH's market performance has been significantly worse than Bitcoin. Most Ethereum upgrades have limited boost to ETH prices. Rather than being a major positive, it is a step-by-step preparation for blockchain's move towards widespread application.

Wall Street's interest in Ethereum ETFs has also been unstable, and Ethereum has also faced considerable pressure in responding to emerging market trends. For example, more and more users prefer to issue Meme coins on blockchains with lower costs.

However, Ethereum still has a bright spot, namely the issuance of USDT stablecoins. Although Tron has lower transaction fees, the issuance of USDT on Ethereum has recently exceeded that of Tron, showing a certain advantage.

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