Ethereum-Bitcoin Exchange Rate Drops to Lowest Level Since 2021

The original cryptocurrency of Ethereum, Ethereum (ETH), is lagging behind its competitors due to the market penetration of memecoin by President Donald Trump, which has supported rival blockchains such as Solana. Trump Memecoins create the explosion of Solana According to Bloomberg data, the Ethereum-Bitcoin price ratio has dropped to its lowest level since 2021, while Bitcoin has reached a record high of $109,241. Meanwhile, Solana's native token reached a new high over the weekend, fueled by crazy memecoin trading on its network. The protest in Solana was driven by two memecoins launched on the blockchain before the inauguration of Trump and First Lady Melania Trump. According to CoinMarketCap, the 'Trump' memecoin reached a market value of 15 billion dollars in a short time before undergoing significant fluctuations at the end of the weekend. Le Shi, CEO of Auros, a market-making company in Hong Kong, said, "Ether is definitely a losing currency in the recent memecoin wave, as most of the largest memecoins have emerged in the Solana ecosystem."

Solana has dubbed itself the "Ethereum killer" and is increasingly becoming a popular platform for launching memecoins, attracting speculative investors. On Sunday, the Solana-Ether price ratio reached an all-time high as traders flocked to Trump's tokens. Ether has struggled to capitalize on the recent gains in the cryptocurrency market. This token has risen 39% over the past 12 months but is still about 30% below its 2021 peak. In comparison, Bitcoin has risen 156% and Solana has risen 180% during the same period. According to Bloomberg data, Bitcoin-focused exchange-traded funds (ETFs) have attracted more than $17 billion in net inflows over the past three months, compared to just $3 billion for Ethereum-focused ETFs. Shi said, "The market perceives that Ether has not had any new and interesting developments, and therefore has been stagnant."