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    Economist Lyn Alden surprised by Ethereum’s lag behind Bitcoin post-US election results

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    Economist Lyn Alden was surprised by Ethereum’s weak performance against Bitcoin following the US presidential election results. Although she has previously expressed skepticism regarding Ethereum’s long-term prospects, she didn’t anticipate it hitting such a low compared to Bitcoin. The Ethereum to Bitcoin ratio hit a multi-year low two weeks after the election, despite Ethereum exchange-traded funds in the US seeing inflows of around $751.8 million. Since then, Ethereum’s price has risen 17% to $3,107, while Bitcoin has increased by approximately 31% to $90,423.

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    So, Lyn Alden, a well-known economist who has openly admitted she’s not really into Ethereum, was taken aback by how poorly Ethereum did against Bitcoin after the US presidential election results came out. She thought Ethereum would do better.

    She’s mentioned before that she’s not super bullish on Ethereum in the long run. But even she wasn’t expecting Ethereum to hit such a low point compared to Bitcoin right after the election.

    Even though Donald Trump’s team seems pretty open to cryptocurrencies, Ethereum (also known as ETH) didn’t do so well against Bitcoin after Trump’s win. In her words, Ethereum had a brief spike then took a dip.

    On Nov. 15, about two weeks after the election results, the Ethereum to Bitcoin ratio (ETH/BTC) hit a multi-year low. It was the lowest it’s been since March 2021, according to TradingView.

    Since then, Ethereum’s price has increased by 17% and is now at $3,107. On the other hand, Bitcoin’s price increased around 31% and is trading at $90,423, based on data from CoinMarketCap.

    After Trump’s win, Ethereum exchange-traded funds in the US experienced an inflow of about $751.8 million, according to Farside.

    There’s some debate on whether Ethereum did or didn’t benefit from Trump’s election victory. Some top analysts said that Ethereum has been slowly devaluing against Bitcoin and it seems the trend is not gonna stop.

    Joe Lubin, the CEO of Consensys, seems to have a different opinion though. He thinks Ethereum’s future might look a bit more positive after the election results.

    He recently stated that out of all the other protocols out there, Ethereum is most likely to benefit from Trump’s win. He said that the US has been holding Ethereum back for some time, causing a bit of uncertainty and fear around it.

    However, Lubin still firmly believes Ethereum has a lot more to offer compared to other ecosystems, except maybe Bitcoin.

    Marcin Kaźmierczak, the co-founder and chief operations officer at RedStone, went on record saying that under Trump’s administration, decentralized finance (a.k.a. DeFi) could really take off and become mainstream.

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