Ethereum (ETH) is gaining prominence as Bitcoin maintains its recent highs. Despite the fact that ETH is currently 36% below its all-time high of $4,878 from 2021, analysts anticipate that the second-largest cryptocurrency by market capitalization may be preparing for a significant shift.
Ethereum’s ecosystem is a hive of activity, with a surge in institutional investments, rising ETF interest, and increasing transaction volumes.
From the 1.1 million recorded three months ago, the daily transaction volumes on Ethereum have climbed to 1.22 million, a notable rise according to the most current statistics from IntoTheBlock.
Bitcoin has been the star of this rally, but what about Ethereum?
Historically, Ethereum has been one of the first assets to benefit from profit rotations after Bitcoin’s move.
Currently, Ethereum’s on-chain activity shows evenly spaced potential resistance levels, but in… pic.twitter.com/amkbZmtEyo
— IntoTheBlock (@intotheblock) November 21, 202
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