ETH prices are once again approaching their cycle lows, but glassnode data points to a significant upturn in investor sentiment.
Despite the recent BTC spot approval triggering a momentous 77% rally and setting a year-to-date high of $2,715, ETH prices have softened in the weeks following this along with the broader market.
On-chain analytics company Glassnode's data reveals that despite the current slump, Ether is outpacing Bitcoin in multiple areas.
Glassnode's recent "The Week Onchain" report underscores this outperformance of Bitcoin by ETH on a weekly, monthly, and quarterly basis.
This hints at a potentially brighter future for ETH, despite the recent downturn.