CryptoQuant CEO: Although Ethereum’s MVRV is rising rapidly, it is not overvalued
Ki Young Ju, CEO of crypto analysis company CryptoQuant, pointed out that although Ethereum's market value realization value (MVRV) is rising rapidly, it is also accompanied by an increase in Ethereum network transaction volume and active addresses. The rise in ETH MVRV is faster than BTC MVRV, indicating that the ETH market is heating up relative to its on-chain fundamentals. However, on-chain activity levels indicate that it may not be overvalued.
According to Santiment's data, compared with Bitcoin in the past 30 days, Ethereum's MVRV has risen by 29.9% to reach 91.43%, while Bitcoin's MVRV has shown the opposite trend, falling by 10.8% to reach 127.41%.
MVRV represents the difference between the price paid by users for assets and the current market price, which is essentially whether asset trading prices are higher or lower than their fair prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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