Ethereum continues to underperform while majority of L1s outperform BTC

Definition

The L1 Native Token Returns vs. BTC highlight the relative price performance of large L1 native tokens versus bitcoin.

Quick Take

• CryptoSlate analyzed that ETH/BTC broke down to its lowest price level in the past three months and continues to underperform against BTC.
• Over the last fourteen days, layer-one tokens have outperformed BTC as a cohort, but Ethereum remains the worst performer.
• Atom has outperformed BTC by 9.7%
• Matic has outperformed BTC by 14.98%
• SOL has outperformed BTC by 3.3%
• DOT has outperformed BTC by 0.9%
• BNB has underperformed against BTC by -0.9%.
• ETH has underperformed against BTC by -4.45%.

Native Token Returns: (Source: Glassnode)

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