ETH/BTC exchange rate falls to 0.01791, lowest since 2020.
The Ethereum market is facing mounting pressure as the ETH/BTC exchange rate has plummeted to its lowest level in nearly five years, according to recent TradingView data. The ratio has fallen to 0.01791, marking a significant decline in Ethereum’s value relative to Bitcoin not seen since 2020.
Galaxy Digital, Paradigm, and Ethereum Foundation shuffle millions worth of ETH.
This downward trend coincides with increased selling activity from major institutional players and “whales” in the Ethereum ecosystem. According to blockchain expert OnchainDataNerd on X, Galaxy Digital sent an extra 5,000 ETH (about $8.11 million) to Binance on April 22, 2025.
Major firms reducing Ethereum exposure
As previously revealed on April 18, 2025, Galaxy Digital moved about $100 million worth of ETH to exchanges in a few days prior to this transaction. There are other significant companies lowering their exposure to Ethereum besides Galaxy Digital.
Three hours before Galaxy’s transaction, Paradigm sent Anchorage Digital 5,500 ETH, which is worth around $8.65 million as per EmberCN. Furthermore, Lookonchain discovered that 1,000 ETH was sent to the Kraken exchange from an address connected to the Ethereum Foundation.
These substantial movements from institutional holders are placing significant downward pressure on Ethereum’s price at a time when the token is already struggling against Bitcoin’s dominance. Currently, ETH is trading at $1,574, representing a 2.5% decline over the past 24 hours, while Bitcoin approaches the $90,000 mark.
The widening performance gap between the two largest cryptocurrencies may prompt investors to shift their allocations toward Bitcoin, potentially intensifying the selling pressure on Ethereum.
The Ethereum Foundation’s history of multiple recent ETH sales further suggests that these large institutional transactions can significantly impact price volatility and impede Ethereum’s growth trajectory.
Beyond whale activity, ETH faces additional challenges that may be contributing to investor hesitation. The network’s staking ratio currently stands at just 28%, substantially lower than competitors like Solana, which boasts a 65% staking ratio. This disparity, coupled with less attractive staking yields compared to alternatives, may be eroding investor confidence in ETH as a long-term holding.
Bitcoin’s market dominance has reached a four-year high, indicating capital is flowing away from Ethereum and other alternative cryptocurrencies. This trend could exacerbate ETH’s relative underperformance if it continues.
Despite these concerning short-term signals, some experts maintain optimism about Ethereum’s long-term prospects.
