Ethereum Can’t Keep Up With Bitcoin!

Here's what we've got for you today:

• Ethereum Has Outperformed Bitcoin Just 15% of the Time Since Its Launch

• Chinse Yuan Plunge Triggers Bullish Bitcoin Outlook

• Melania Trump’s Meme Coin Team ‘Quietly Sold’ $30M, Says Bubblemaps

• Trump Dismantles Crypto Crime Unit and Escalates Tariff Pressure on China

📊 Ethereum Has Outperformed Bitcoin Just 15% of the Time Since Its Launch

Since Ethereum started trading in mid-2015, it underperformed against Bitcoin 85% of the time.

• ETH briefly outperformed BTC from mid-2015 to mid-2017, and again in late 2019 and early 2020.

• As of April 9, the ETH/BTC ratio dropped to a five-year low of 0.018. This is its lowest level since December of 2019.

• Ethereum advocates are also concerned about the fact that the altcoin struggled to gain traction earlier this year when Bitcoin hit a new price peak.

🐂 Chinese Yuan Plunge Triggers Bullish Bitcoin Outlook

Tensions between the US and China prompted a sharp drop in the yuan and renewed interest in Bitcoin as a safe haven.

• US-China tensions intensified after President Donald Trump imposed a 104% tariff on Chinese imports, which prompted Beijing to let the yuan fall to its lowest level since 2023.

• Analysts speculate further yuan devaluation is likely, and this increasing pressure on China’s currency caused concerns about capital flight.

• Bitcoin may benefit from this situation because people like Arthur Hayes and Bybit CEO Ben Zhou suggest that investors could shift wealth into crypto as a hedge.

💸 Melania Trump’s Meme Coin Team ‘Quietly Sold’ $30M, Says Bubblemaps

The team behind Melania Trump’s meme coin, MELANIA, moved $30 million worth of the token out of the project’s community funds and started selling them.

• Bubblemaps revealed that 50 million MELANIA tokens (worth ~$30M) were moved from community funds and are being quietly sold without explanation from the project team.

• The tokens were sent to a single wallet, then split across multiple addresses. About $3M was sent to exchanges, $500K sold, and two new $6M positions were opened.

• Bubblemaps claimed that 92% of MELANIA’s supply is still controlled by team wallets, and also warned that “the damage isn’t done yet.”

🤯 Trump Dismantles Crypto Crime Unit and Escalates Tariff Pressure on China

The Department of Justice (DOJ) is reportedly disbanding its National Cryptocurrency Enforcement Team (NCET).

• The DOJ is disbanding its National Cryptocurrency Enforcement Team (NCET), according to a leaked memo that criticized the Biden administration’s crypto enforcement as “regulation by prosecution.”

• The NCET was created to target crypto-related crimes like fraud, sanctions evasion, and money laundering but is now being shut down under new leadership.

• The move happened after Trump’s January executive order to reshape US crypto policy.

👀 QUICK NEWS

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• Argentina Congress Back Investigation Into Officials Over Libra Meme Coin

• Bitget Plans to Burn $120 Million Worth of BGB Under New Quarterly Mechanism

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