Efirium in the current market growth cycle regularly faces criticism due to the peculiar behaviour of its price. Still, the ratio of ETH to BTC is now at its lowest since April 2021, meaning that the coin is losing significantly in terms of profitability to Bitcoin.

If BTC has risen in price by 62 per cent since the beginning of 2024, and SOL jumped by 60 per cent, the result of Efirium was a modest 7 per cent.

Changes in the value of Etherium ETH in 2024

Spot ETFs based on this cryptocurrency can also boast not the best results. Since their launch in the U.S. at the end of July 2024, such instruments have recorded a net outflow of $542 million.

Performance of spot ETFs on Efirium in the U.S.

In comparison, Bitcoin ETFs saw net inflows of $2.22 billion last week. In other words, the demand for Efirium-based instruments leaves much to be desired.

Whether it’s worth getting involved with Efirium

As 21Shares analyst Lina Eldib stated in an interview with Cointelegraph, large inflows into the Efirium-ETF will only be recorded when large investors realise the full potential of the altcoin ecosystem. Here’s a comment on the subject.

Efirium is as complex as Amazon in the 1990s. It promises huge potential, but it’s not so easy to use.


The Eth network in its current state really loses out to promising new blockchains. Firstly, it is slow to conduct transactions, and at times at very high fees. Secondly, there are a huge number of second-tier networks like Base, Optimism and Arbitrum based on Etherium. Each of them requires ETH to conduct transactions, but in the appropriate chain, which creates difficulties for newcomers.
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Amazon started out as an online bookstore, but the company eventually grew into a global e-commerce and cloud computing giant. By today, Amazon has a capitalisation of $2.05 trillion, making it one of the largest in the world and playing an important role in the American economy.

Ranking assets by market capitalisation

Similarly, Efirium started its journey in 2015 as a platform for running smart contracts. Now it is the basis for decentralised financial applications with a total turnover of more than $140 billion. The expert continues.

Just as Amazon has gone beyond the book business and redefined entire industries, Efirium is also able to surprise us with revolutionary use cases that we can’t fully imagine today.

Changes in Amazon’s share price

At the moment, ETH’s capitalisation reaches $294 billion, which is a tiny fraction of Amazon’s corresponding figure.

That being said, Etherium has a significant advantage over the Amazon of the 1990s – a huge pool of developers working on the utility of the network. In addition, the very fact that there is a developed internet today gives the opportunity to tangibly accelerate the pace of cryptocurrency adoption compared to Amazon’s projects.

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ETH also has competitors in the form of Solana and other projects, but that doesn’t stop Etherium from dominating decentralised exchanges, lending, stablecoins and tokenisation. For example, BlackRock, the world’s largest asset management company, has tokenised more than $533 million worth of funds on this network.

Some experts admit that the key advantage of Ethos is the duration of its presence in the market and its role as a pioneer. Well, now the gap between different networks is narrowing, as more and more crypto owners are choosing modern blockchains with high transaction speeds.

Nevertheless, “only a few investors realise the potential of Ethereum”. As the experts noted, the majority chose to “stay away” from spot ETFs based on Etherium. That is, market players are still cautious and will be less inclined to invest in the altcoin until there is “greater clarity on its use,” the analysts said.

Efirium and other cryptocurrencies

According to Sygnum Bank’s head of research, Katalin Tischhauser, inflows into spot Efirium ETFs were only 9 per cent of what went into spot exchange-traded Bitcoin funds in the first 90 days after listing. This was quite expected due to the short marketing period and the fact that investors are still “digesting” the spot Bitcoin ETFs, whereas the ETH-based instruments have eliminated the staking clause. In other words, investors can’t get additional returns due to the blocking of some coins to participate in the network.

However, the picture may look quite different in twelve months, when investors will have more time to consider bullish trends in the Efirium ecosystem. For this reason, analysts are not concerned about the zero inflow data from some altcoin-based spot exchange-traded fund issuers.

However, it is fair to say that after a year, the cryptocurrency industry may well start a bearish trend. Accordingly, it will be banally late to talk about bullish prospects for ETH - and this should also be taken into account.

Cryptocurrency market collapse


Critics of Etherium are unlikely to agree with the comparison of it with Amazon. There is a version that the Eth network may repeat the fate of MySpace, which lost popularity due to the emergence of Facebook. Either way, the development of blockchain is quite slow, and the emergence of new second-level chains is not in favour of usability. However, the network continues to work and fulfil its tasks anyway.
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