Ethereum's ether (ETH), once seen as a close rival to bitcoin's (BTC) dominance, has experienced only a 36% rise this year, starkly contrasting with Bitcoin's 109% increase.

Despite trading at approximately $3,100, ether remains significantly below its all-time high of $4,832 achieved in 2021, in the face of Bitcoin reaching record prices above $90,000.

The current market conditions project a mere 10% chance that ether will surge past $4,000 by the end of December, with traders increasingly optimistic about Bitcoin breaking its all-time highs above $100,000.

Market Trends

• ETH's options trading indicates a projected 10% probability of prices reaching its previous highs.
• Fundamental weaknesses continue to hinder ETH's investment attractiveness.

Amberdata has attributed the pessimism surrounding ether to weak market fundamentals. According to Greg Magadini, Director of Derivatives at Amberdata, "ETH confronts substantial challenges as the value proposition has shifted towards inflationary supply; most DeFi activities are conducted on Layer 2 solutions rather than ETH's Layer 1. This situation adversely impacts prices."
(ETH confronta enormes desafíos ya que la propuesta de valor ha cambiado hacia un suministro inflacionario; la mayoría de las actividades de DeFi se realizan en soluciones de Capa 2 en lugar de la Capa 1 de ETH. Esta situación impacta negativamente en los precios.)

Furthermore, the anticipated upward trend in Bitcoin could potentially elevate ETH beyond the $4,000 mark, although it is likely to remain underperforming in comparison to Bitcoin.