Crypto News – While Ethereum prices have been rising recently, they have not increased as much as those of Bitcoin, which is once again dominating the market. Because of this, experts believe that ETH is still cheap, even though it has dropped 54% from its peak.
Ethereum Bull Run: Why ETH Couldn’t Break Above $2.2K
Ethereum has gained over 30% since the surge started in mid-October. In contrast, throughout the same period, Bitcoin has increased by 55%, mostly due to the buzz surrounding spot ETFs.
ETH price at $2,200 is hilarious. Everyone out here trading ‘what ifs’ this cycle when Ethereum has fundamentals,
Ryan Sean Adams from Bankless
He mentioned that the only profitable chain is Ethereum, which currently generates $2.7 billion in annualized revenues. Furthermore, its price-to-earnings ratio (P/E) is 98, marginally higher than Amazon’s P/E of 75.
Ethereum Price Movements
After staying steady throughout the day, Ethereum prices are currently circling $2,228. On December 4, the asset reached a high of $2,270 for 2023, and it has gained about 10% in the last week.
After only recently emerging from an 18-month consolidation, ETH has finally reached its May 2022 levels, albeit more slowly than Bitcoin.
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