Recent data suggests Ethereum may be undervalued relative to Bitcoin, based on a historical trend indicating strong ETH price rebounds. However, market indicators paint a more complex picture. Ethereum’s network activity remains stagnant since 2021, with limited growth in transaction volume or user base. Institutional interest has also waned, as staked ETH and ETF holdings decline. The Dencun upgrade, aimed at lowering transaction fees, might be undermining the deflationary mechanism that made ETH unique in the past. Despite these challenges, analysts believe Ethereum’s low valuation provides a strong signal for potential price increases. Yet, this may not translate into immediate gains if the network’s stagnation persists or if investor interest remains subdued. A resurgence depends on renewed activity on the Ethereum platform, increased institutional adoption, and potentially more favorable market conditions.