Analyst Michael van de Poppe believes that the trend of fund rotation into altcoins before the COVID-19 pandemic may reemerge. He pointed out that the ETH/BTC ratio has rebounded 75% from the low of 0.02 in Q2 2025, coinciding with the lows of 2019. Although Bitcoin's market capitalization remains high at $2.5 trillion and continues to dominate, Ethereum's fundamentals remain strong, with market share increasing from a low of 8% to over 60%, TPS reaching a record 58,000, and the adoption rate of RWA continuously rising. As the regulatory environment becomes clearer, Ethereum is expected to see breakthrough progress.