© Reuters.
NEW YORK – The digital currency space is witnessing a divergence in the performance and correlation of its two largest players, Bitcoin and Ethereum. Recent data from Kaiko Research indicates that the relationship between the two cryptocurrencies has weakened, with their correlation falling below the long-term average of 0.71.
This change comes as Ethereum has seen a significant increase in trading volume. However, unlike bitcoin, which has seen a surge fueled by anticipation of the approval of spot exchange-traded funds (ETFs), the price of ethereum has not followed similar speculative growth.
Against the backdrop of these market movements, the Ethereum network is undergoing substantial updates. These improvements have been successfully implemented on test networks, demonstrating the progress made in network development.
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