Ethereum’s Largest Undervaluation vs. Bitcoin Since 2019
- Ethereum is experiencing its most significant undervaluation compared to Bitcoin since 2019.
- The total supply of Ethereum has surged past 120.7 million ETH, indicating a shift to inflationary issuance.
- The recent Dencun update reduced transaction fees, impacting the burning mechanism essential for maintaining scarcity.
- Network activity remains stable, but transaction volume and active addresses show no sustained growth.
- EIP-1559’s burning mechanism weakened due to lower transaction costs post-Dencun update.
Ethereum’s supply increase to over 120.7 million ETH marks a shift from deflationary to inflationary issuance, posing challenges for its recovery amid undervaluation compared to Bitcoin.
Source (2.6)https://hodl.press/ethereums-biggest-undervaluation-vs-bitcoin-since-2019/?rand=24434
