ETH/BTC

ETH/BTC is the trading pair, and the exchange rate, between ether, the native asset of Ethereum, and bitcoin. Following the convention for a currency pair, ETH is the base asset and BTC the quote asset, so a price of 0.03 means one ether buys 0.03 bitcoin. The pair trades directly on many exchanges, and the ratio can also be calculated by dividing ether's dollar price by bitcoin's. Because it strips out the US dollar, analysts use ETH/BTC to judge whether ether is gaining or losing ground against bitcoin: a rising ratio means ether is outperforming, and a falling one that bitcoin is. It is often read alongside bitcoin dominance as a gauge of appetite for altcoins. The ratio has swung widely over the years, and past ranges are no guide to future moves.