The 365-day running ROI for Ethereum (ETH) has recently crossed above 1, indicating that buying ETH at any point in the last year would currently result in a positive return. This metric has historically dipped below 1 during bear markets and risen above 1 during bull markets, suggesting a potential shift towards more favorable conditions for ETH investors. The current value of 1.149 implies a 14.9% return over the past year.