Cryptocurrencies
Ether Trails Rivals as Trump’s Memecoin Debut Bolsters Solana
- The Ether-to-Bitcoin ratio is at its lowest level since 2021
- The second-largest digital asset is falling behind rival coins
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Ethereum’s cryptocurrency keeps losing ground to rival tokens as it struggles to harness tailwinds created by President Donald Trump’s foray into a highly speculative corner of the digital-assets market.
The Ether-to-Bitcoin price ratio — which measures the performance of the second-ranked token against that of the largest — fell to its lowest level since 2021 on Monday, according to data compiled by Bloomberg, while Bitcoin hit a record of $109,241. The native token of Solana, a blockchain that competes with Ethereum, reached fresh highs over the weekend.