Traders pin Ethereum’s route to new ATH to eventual Bitcoin ETF approval By Cointelegraph

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The price of Ether (ETH) is lagging ‘s (BTC) price action by 13% in October, but is this relevant? To date, the altcoin has still outperformed BTC by 274% in 2021. However, traders tend to be short-sighted and some will question whether the network can successfully migrate to proof of stake (PoS) validation and finally solve the high gas fees issue.

Bitcoin and Ether prices at Bitstamp. Source: TradingView

Moreover, the increasing competition from smart contract networks like (SOL) and (AVAX) have been worrying investors:

Ether three-month futures basis rate. Source:
Ether perpetual futures 8-hour funding rate. Source: Bybt