Ethereum Outperforms Bitcoin 48% to -11% on Fee Cuts and DeFi Boom

Ethereum has surged 48% over the past year while Bitcoin dropped 11%, driven by protocol upgrades like Pectra and Fusaka that slashed gas fees 83% versus a year ago and 98% versus three years ago. DeFi TVL on Ethereum climbed from $45B to $56B as of April 14, signaling robust on-chain growth. Upcoming Glamsterdam (H1 2026) and Hegota (H2 2026) upgrades promise further scaling, positioning ETH for continued relative strength at $2,267.71.