Ethereum's Status Remains Uncertain: Is It Bitcoin's Lever or an Independent Currency?

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Ethereum news shows the asset remains in a state of flux, with ongoing debate over whether it acts as Bitcoin’s lever or a standalone currency. In 2025, Ethereum saw a sharp drop in its BTC price ratio and fee market share, followed by a strong rebound, with Ethereum price today hitting a record $4,946 in August. Ethereum-focused treasury firms like Bitmine have boosted ETH demand, but challenges persist, including falling fee revenue and competition from Solana and Hyperliquid. Despite ETF inflows, Ethereum’s price remains closely linked to Bitcoin, with a beta coefficient above 1.8.
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