Ethereum's realized cap turns positive after 8 weeks, signaling early recovery amid Bitcoin-led demand.

Ethereum's realized cap has turned positive for the first time in eight weeks, indicating renewed capital inflows and a potential early recovery. This metric, which tracks where coins last moved, suggests new demand is entering the network rather than just repositioning by old holders. Despite this positive sign, Bitcoin remains the main driver of market demand, with stronger buying activity seen on Coinbase. However, mixed actions by large Bitcoin holders indicate ongoing market uncertainty, meaning the crypto market is showing strength but is not yet stable.