According to BlockBeats, on September 20, Steno Research said in a report on Thursday that Ethereum (ETH)'s recent poor performance may be over, and ETH may shine again, whether in terms of fiat currency exchange rate or BTC exchange rate.
The report noted that ETH rose sharply during the last round of altcoin season, with the ETH/BTC exchange rate more than doubling in less than two months. This shift was triggered by a surge in on-chain activity, including decentralized finance (DeFi), stablecoin issuance, and the boom in non-fungible tokens (NFTs), all of which occurred primarily on the Ethereum blockchain.
The Federal Reserveâs rate cut earlier this week will lead to an increase in on-chain activity, which will be a huge positive for Ethereum.
