The on-chain data for Ethereum indicates that it has potential for a significant price surge, following the dominance of Bitcoin in the current rally. While there are mixed signals in the on-chain metrics, there are some positive trends. Daily transactions on the Ethereum network have slightly increased, reflecting growing activity. Transaction volumes are steadily climbing, showing interest from institutions and large holders. Whale activity is bullish, as large holders have been accumulating ETH, reducing potential selling pressure. While new Ethereum addresses remain below previous levels, the rise of Layer 2 solutions like Base further ensures continued demand for Ethereum. Other key metrics, such as exchange flows and holding time of coins, support the readiness of Ethereum for a potential breakout. With Ethereum's ecosystem growth and its current trading volume and price, it could leverage its improving fundamentals for a strong rally if Bitcoin stabilizes at its current highs.



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