Add as a preferred source on GoogleEther Gains on Bitcoin as ETH/BTC Ratio Climbs to 0.02954
The ratio rose 2.3% from Oct. 29 to an intraday Nov. 3 reading; both assets fell in dollars from Nov. 1 to Nov. 2.
Ether (ETH) strengthened against Bitcoin (BTC) to an intraday ETH/BTC ratio of 0.02954 on Nov. 3, a seven-day high that brought the pair closer to 0.03.
The ratio was up 2.3% from 0.02887 on Oct. 29 to the Nov. 3 intraday reading. It remained about 1.6% below 0.03 and measures how much BTC one ETH can buy.
From Nov. 1 to Nov. 2 closing prices, BTC fell about 2% to $76,677 from $78,248, while ETH declined 1.1% to $2,249 from $2,273. Because Ether fell less over that window, an ETH holder could exchange for nearly 1% more BTC than a day earlier.
The ratio's move follows the pair's Oct. 19 close below 0.03.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.