Bitcoin and Ethereum reserves at the exchanges are growing apart

So at the moment, the market seems to indicate that it has a preference for Bitcoin over Ethereum. From the beginning of this year, Ethereum also lost 3 percent against Bitcoin, which is special. Due to the switch to Proof-of-Stake, the amount of Ethereum in circulation has decreased by more than 6,000 Ether, while Bitcoin has an inflation rate of 1.7 percent.

Bitcoin remains the boss

For now, it seems that Bitcoin will really rule the market for a while. The narrative of “The Flippening” can be put back in the fridge for a while. This term refers to the possible overtaking of Bitcoin by Ethereum. In recent years, Ethereum sometimes came ‘close’, but Bitcoin has never really been in danger of losing its number one position. Even now, Bitcoin’s market cap is more than twice that of Ethereum.

Since the beginning of the year, Ethereum is up 39 percent, while Bitcoin shows an impressive 43 percent. Especially when you consider that the market cap of Bitcoin is more than twice as large, this increase means that more than twice as much capital flowed to Bitcoin in 2023.

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