Ethereum's Attractive Price Amid Rising On-Chain Activity

Ethereum's price has been trading below its realized price, making it an attractive option for investors. This is because exchange reserves have been falling, indicating steady accumulation of the asset. In addition, recent increases in smart contract deployment and median tip fees suggest genuine short-term demand.

However, subdued leverage and cooling funding rates reduce downside risk, but spot ETF outflows and stalled momentum warn of possible bearish continuation. Investors should keep an eye on whether organic on-chain activity sustains to support a price rise.