ChainCatcher message, IntoTheBlock pointed out in a post on platform X that Bitcoin has performed prominently in this round of increases, while Ethereum's on-chain activities show complex signals. Historical data indicates that Ethereum often benefits after Bitcoin rises, but currently its on-chain activities exhibit evenly distributed potential resistance levels. However, these resistance levels may have limited impact in the current market.

The number of new Ethereum addresses remains below previous bull market levels, possibly due to the popularity of Layer 2 solutions like Base. However, Base still relies on Ethereum as its settlement layer. Daily transaction volume has slightly increased to 1.22 million, up from 1.1 million three months ago. The rise in transaction volume, along with large holders continuing to accumulate, shows long-term confidence in Ethereum. If Bitcoin consolidates at high levels, Ethereum may have an opportunity for an upward move.