Steno Research reports that Ethereum may be on the verge of recovery after recent underperformance, with nearly an 8% increase year-to-date compared to Bitcoin's 43% surge. The analysis points to rising onchain activity in DeFi, stablecoin issuance, and NFTs on the Ethereum network, especially following the recent Fed interest rate cut. They said that this uptick could bolster Ethereum's performance, making it likely to outperform Bitcoin once again. Factors contributing to Bitcoin's current lead include the influence of U.S. spot ETFs, consistent buying from MicroStrategy, and a decline in Ethereum's transactional revenue, which appears to have bottomed out.  Source: Coindesk