ETH has surged 50% in two weeks, reaching $3,730, but still below its all-time high. Onchain fundamentals show 28% of ETH staked, low exchange balances, and increasing buyer inflows. Network usage remains high even after gas limit increases, signaling strong demand.

ETH appears undervalued compared to Bitcoin, with potential for a breakout to $9,000 by early 2026. Onchain trends point to tightening supply and new buyer demand. Spot Ether ETF inflows have increased, with 94.4% of ETH supply in profit.

Ethereum’s transaction fees have dropped to historic lows, reflecting improved efficiency and increased layer 2 usage. Block gas limits have been raised multiple times, highlighting persistent demand. NFTs and DeFi have decreased, while stablecoin transactions and ETH transfers are on the rise, indicating increased settlement and trading activity.

Read more at Cointelegraph: ETH Bulls Predict Rally To $9K: What Does Data Say?