Ethereum appears undervalued, bolstered by increasing whale investments and a robust Total Value Locked (TVL) nearing 190 billion USD in DeFi. Despite bearish sentiment, network metrics indicate new address creation and ongoing buying pressure from whales.
The MVRV Z-Score shows Ethereum being priced below its typical values, suggesting it could be undervalued. This could present a significant buying opportunity as the market might soon reevaluate its stance on Ethereum.
Leave a Reply