According to a report from crypto analytics firm IntoTheBlock, Ethereum has recorded an 85% increase in its market cap over the last year, moving from around $149.18 billion to its current value of $275.98 billion. However, in comparison with other major assets, ETH performance still leaves more to desire, especially considering the many positive developments experienced by the asset in 2023.
Ethereum Underperforms
Ethereum (ETH) has been one of the major headliners in the crypto space in 2023. The second-largest cryptocurrency and the most prominent altcoin has continued to retain investor interest marked due to several factors.
One of these factors is the Shanghai/Capella upgrade in April which has so far produced a significant increase in ETH staking activity as investors are now allowed to freely withdraw their assets from the Ethereum network.
Ethereum grew ~85% in market cap in 2023, slightly underperforming other major assets despite upgrades, ETF applications and showing robu
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