Ethereum's ether (ETH), which has risen just 36% this year, significantly lags behind Bitcoin's impressive 109% surge, reflecting ongoing investor aversion and weak fundamentals.
With current market rates around $3,100, ETH remains far from its 2021 high of $4,832, while Bitcoin continues to break its lifetime highs above $90,000.
According to Amberdata's research, traders now see only a 10% chance of ETH surpassing the $4,000 mark by the end of December, indicating a bleak outlook.
Amberdata emphasizes that ETH's outlook is hindered by its lack of 'sound money' qualities, which continues to deter robust investor interest despite encouraging trends in DeFi.
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