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BREAKING:According to the latest on-chain data, Ethereum appears to be entering a state of undervaluation, with the potential to rebound to new heights. However, the question remains—is now really the time to buy ETH?
ETH could fall another 40% before the bear cycle ends.
In a new Quicktake post on the CryptoQuant platform, cryptocurrency analyst Burak Kesmeci shared that Ethereum, the second-largest cryptocurrency by market capitalization, is starting to become relatively cheap.
The relevant on-chain indicator in this observation is the MVRV (Market Value to Realized Value) ratio, an indicator that compares a coin's market capitalization to its realized value.