Analysis: On-chain metrics (TX count, Gas, L2s) are trending up. Is this just a bounce, or a return of real network activity?

Noticed something interesting today while looking at ETH charts (see image). Instead of focusing on the price itself, I looked at the on-chain side: ​Transaction count and gas usage are both trending higher again. ​Layer-2 networks seem to be heating up (especially Arbitrum & Base). ​Staking deposits also ticked up over the past few days. ​To me, this looks like more than just a “speculative bounce.” It feels like the network itself is waking up again. ​I’m curious — for those who’ve been here since 2021, does this pattern feel similar to the early stages of previous cycles? Would love to hear your thoughts on what metrics you watch when ETH gains momentum.