Ethereum Potentially Undervalued as On-Chain Indicators Suggest
- Ethereum’s MVRV-Z score is at its lowest in 17 months, indicating potential undervaluation.
- The last similar undervaluation occurred in October 2023, leading to a 160% price increase.
- ETH inflows into accumulation addresses have reached multi-year highs, suggesting strong institutional interest.
- Wallets holding between 1,000 and 10,000 ETH have been accumulating since July 2024.
- The SEC recently approved the first spot ETH exchange-traded fund (ETF).
The current low MVRV-Z score and increased accumulation by crypto whales suggest Ethereum might be undervalued. Previously, such conditions led to significant price rallies.
Source (2.6)https://www.newsbtc.com/news/ethereum/ethereum-gained-160-the-last-time-this-on-chain-indicator-flashed-will-eth-soar-again/?rand=52377
