Ethereum (ETH) has put up an impressive performance over the last month with the price rallying over 41% in that period. The surge has sparked hope among market participants with most expecting an altcoin season soon as ETH outpaces BTC in performance. 

However, Dom Harz – the Co-Founder of BOB; a hybrid Layer-2 combining the security of Bitcoin with Ethereum’s DeFi innovation and versatility, believes that the recent price action of Ethereum does not depict only short-term positioning. In the exclusive commentary shared to Blockchain News, Dom believes that Ethereum’s recent price action also reflects a shift in its long-term trajectory. 

Ethereum’s Recent Price Action 

As per the ETH/USDT monthly chart on TradingView, Ethereum is currently trading at $2,513. This price level marks a 41.01% surge on the monthly timeframe with ETH climbing from the $1,784 level. 

While the coin has failed in its several attempts to climb towards the $3,000 level, it could be gearing for another attempt. Climbing above key resistance levels at $2,700 level will be crucial to achieve this milestone with further upside potential to follow. While ETH is volatile, the bullish rally seems intact at the moment, fueled by the cooled-off global trade tensions and the Pectra Upgrade that went live on May 7, 2025. 

Additionally, Ethereum is outpacing Bitcoin’s performance. As per TradingView data, the ETH/BTC pair has recorded the first breakout since December 2024. The ratio currently sits at 0.02390 with a 26.13% surge over the last two weeks. The pair also posted a higher low for the first time in 5 months. This is usually interpreted to mean an uptrend. 

But despite the recent surge in the ETH/BTC pair, the altcoin season is still far from happening. But, we still cannot rule it out completely. However, for a fully-fledged altcoin season to occur, most altcoins must outperform BTC. 

In the case of the 2022 altcoin season, 75% of altcoins managed to do so. But as at the moment, only 16% altcoins have managed to outperform BTC, as per the Altcoin Season Index by Coinglass. 

ETH Long-Term Trajectory Lies in the Convergence With BTC; Expert Says

The recent surge in Ethereum clearly depicts bullish momentum around the coin. But, Dom Harz believes that the recent ETH price action reflects more than just short-term positioning. Rather, it signals a shift in the long-term role of Ethereum alongside the broader blockchain infrastructure. 

“The recent rally in Ethereum’s price isn’t just about short-term positioning, but rather is a reflection of a deeper shift in the market’s understanding of what the future of blockchain infrastructure will look like,” Dom remarked. 

BOB’s co-founder also believes that despite Ethereum’s traditional dominance in DeFi, NFTs, and Layer-2 networks, its long-term trajectory lies in its convergence with Bitcoin. Furthermore, the decentralized finance (DeFi) sector is shifting and power will shift to hybrid models that leverage on both the security of Bitcoin and the tested Ethereum dApps. 

“The crypto industry is evolving beyond siloed chains, and the next phase of DeFi will focus on the hybrid models that leverage the best of both worlds: security and liquidity on Bitcoin’s side, and battle-tested dApps with proven UX on Ethereum’s side, “Dom shared. 

As per Dom, Ethereum’s long-term trajectory no longer lies in its stablecoin dominance and growing Layer-2 (L2) revenue. It lies on its ability to tap into the security and decentralization of Bitcoin. 

Security and Decentralization Take Centre Stage

As innovation in the DeFi sector continues to pick up pace, Dom believes that security is becoming the foundation of next-generation protocols. “The reality is that security remains the core requirement for financial infrastructure,” he emphasized. Dom also believes that Bitcoin will become the foundation for the next generation of DeFi. This can be attributed to its secure chain and decentralized nature. 

As the market matures, the DeFi sector is “moving toward models that bring Ethereum’s liquidity and programmability together with Bitcoin’s trustless security.” Ethereum must thus focus on its ability to align with this movement other than trying to protect its territory. Managing to do so is crucial for the long-term success of Ethereum.