Prominent Ethereum (ETH) supporter Adriano Ferria says Bitcoin's (BTC) “store of value” story is fraught with conflicts of interest, constant selling pressure and miner vulnerability in the proof-of-work ecosystem. He said that due to the nature of the situation, there is a possibility that the property may have been borrowed. Meanwhile, the ETH/BTC rate has fallen to its lowest level since early April 2021.
Bitcoin (BTC) is flawed by selling pressure and conflicts of interest: a view
Ethereum (ETH) has proven censorship-resistant as OFAC failed to properly enforce censorship measures on transactions. Such a statement was shared on X by Adriano Ferria, a DeFi researcher and long-time supporter of Ethereum (ETH).
Meanwhile, more than 58% of the merged blocks were OFAC compliant, meaning they rejected transactions involving the specified Ethereum (ETH) address, according to an automated tracker of MEV impact on Ethereum and OFAC sanctions.
At the same time, Ferrier acknowledged that Bitcoin (BTC), the largest cryptocurrency, faces more dangerous challenges. BTC as an asset is always under selling pressure from miners who want to cover their expenses. Additionally, advanced mining hardware cannot be easily transferred, making the entire ecosystem resource inefficient.
related
Additionally, the economic model for Bitcoin (BTC) mining has struggled to the point where price growth has slowed and the bullish momentum of the halving event has become too weak to attract new investors.
related
In contrast, Ethereum (ETH) remains net deflationary after the merger, still providing stable yields for long-term holders of Ether.
Major companies are still betting big on Ethereum (ETH) despite ETH trends being in the dark
And while Layer 2 scaling mechanisms, including different classes of rollups, are pushing the barrier of Ethereum (ETH) network performance, Bitcoin’s Lightning Network remains a novelty to the majority of Bitcoiners.
That's why real-world tech giants like Sony and Samsung are collaborating with crypto giants Coinbase and Kraken to explore rollup and app chain solutions on Ethereum's L2.
related
It should be noted that Ethereum (ETH) price performance during this cycle has caused strong pessimism among investors.
According to TradingView data, the ETH/BTC rate fell to 0.03628. This is the lowest level in more than three and a half years since the first week of April 2021.
