Investors are captivated by the speculation surrounding the upcoming Bitcoin halving event and the potential approval of a spot BTC ETF by regulators. As a result, Ethereum has experienced a significant decline in value against Bitcoin, reaching a 15-month low. Additionally, Ethereum has just had its first inflationary month since transitioning to Proof of Stake as the issuance of ETH surpassed the amount burned for the first time since the network upgrade known as The Merge. Despite these challenges, Ethereum's Layer 2 ecosystem is thriving, processing over 5.5 times more transactions than the mainnet. However, the Ethereum network is currently facing new challenges arising from the centralization of staked Ether supply through liquid staking tokens. Meanwhile, Bitcoiners are eagerly awaiting the next halving event, expected to occur in April, which historically precedes bullish market cycles. Additionally, hopes are high for the approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission, with numerous applications being filed by asset managers like BlackRock, Ark Invest, and 21Shares.