.MorganStanley says ether, the largest altcoin, is underperforming bitcoin, similar to the crypto downturn in 2018. By willcanny99
), just as it did during the downturn in crypto markets in 2018, Morgan Stanley said in a report Monday.
Ether, the second-largest cryptocurrency, has dropped about 75% from its November peak, analysts led by Sheena Shah wrote. While ether’s price cycle in U.S. dollar terms is similar to 2018, the analysts noted that this time round it’s largely institutional investors driving sales. In 2018, the share of retail trading activity was much higher.
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