Grayscale Analyst: Ethereum’s rise on Wednesday shows that the market is finally turning to ETH-centric trading

Ethereum broke through its new high for the year in the morning and rose to around $2,450. Matt Maximo, a senior research analyst at Grayscale Investments, said that Ethereum's rise on Wednesday indicates that the market has finally shifted to ETH-centered trading, although this may not be fully evident until a US spot Bitcoin ETF receives appropriate regulatory approval. Ethereum's on-chain activity is still very strong, so I believe it's not a matter of "if" but "when" Ethereum will catch up.