Ethereum Surpasses Bitcoin with Strong On-Chain Metrics

Ethereum's market capitalization increased by 2.97% in March, while Bitcoin's only rose by 1.83%. This shift in investor attention towards Ethereum was driven by the growth of decentralized finance (DeFi) and Layer 2 scaling on the network.

According to CryptoQuant, Ethereum's 7-day simple moving average transfers reached a new all-time high above 1.3 million. This increase in network activity indicates record on-chain utility for ETH.