‘Ethereum Set to Shine Again: Steno Research Predicts ETH Surge Following Fed’s Interest Rate Cut’

COINOTAG news on September 20 indicated Steno Research’s latest report, asserting that Ethereum’s (ETH) recent underperformance may be coming to an end. Evaluating both fiat currency and BTC exchange rates, the findings imply potential for ETH to regain momentum. The report highlights the previous altcoin season, where ETH saw a significant uptick, with the ETH/BTC exchange rate spiking over 100% within a two-month span. This rapid rise was spurred by increased on-chain activities, notably in decentralized finance (DeFi), stablecoin issuance, and the booming market for non-fungible tokens (NFTs), predominantly supported by the Ethereum blockchain. Furthermore, the Federal Reserve’s recent interest rate cut is anticipated to boost on-chain activity, offering substantial advantages to Ethereum.