1024 ET - Ethereum, the second-largest cryptocurrency by trading volume and market capitalization behind bitcoin, has been losing value relative to bitcoin for a little more than a year. "The question for investors is whether ETH is now cheap enough to mark a durable bottom--the precondition for ETH outperformance and, historically, for a broader altcoin season," says analysts with CryptoQuant in a note. Ethereum is now trading at $1,900, which is off nearly 20% from its average cost basis of just above $2,300, says CryptoQuant. But the firm notes that institutional investors appear to be moving more money into ethereum ETFs, and other signs appear to suggest that a price bottom may hit soon. Ethereum is down 1.4%, while bitcoin falls 1.5% to $64,875. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
July 23, 2026 10:24 ET (14:24 GMT)
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