Ethereum has nearly 20x more TVL (total value locked) compared to Base, the L2 has outpaced it in address activity.
Besides, Base has closed the gap on the fee, revenue, and DEX volume fronts, Artemis data showed.
That said, on the price chart, ETH blasted 38% in the past 48% and nearly tapped $2.5K for the first time since March.
It briefly eased to $2.3K at the time of writing. If the risk-on sentiment continues, ETH’s next key targets will be the $2.7K and $2.8K, which doubled as 200DMA (Daily Moving Average) and bearish order block (cyan).