❤️I'm back, my dears. I haven't updated recently because of something. I will update more later.

I'm here to recharge your faith. It seems that the faith that needs to be recharged now is not #BTC, but #ETH.

The listing of ETH spot ETF will inevitably bring a wave of strong selling pressure🛩️, which we can predict in advance. Grayscale's#ETHTrust was established in the last cycle. It is not only large in size (more than 2.6 million ETH), but also extremely low in cost. The "unrealized profits" before the listing of the ETF are even much greater than the original BTC ETF. It is impossible for so many large and small investors to be a solid block and all be HOLDers. Once someone rushes ahead, it will inevitably affect the emotions that are still wavering and hesitant.

But the faster the sell-off, the less sustainable it will be. As the saying goes, short pain is worse than long pain. ETH after surviving this stage is still worth looking forward to.

As shown in the figure, ETH's MVRV data

In the first two cycles, ETH-MVRV can reach or even exceed 4, while the current ETH-MVRV is only 1.5 as of July 25 (BTC-MVRV is currently 2.1), which means that the unrealized profit is only 50% relative to the average turnover cost on the chain of ETH, which can be said to be still undervalued in the bull market cycle.

If we assume that ETH-MVRV can also reach 4 in this cycle, according to the current ETH Realized Price (Note: This value is dynamically changing), the price of ETH will reach $8,420.

Even if ETH-MVRV can only reach 3 in this round, the price of ETH can reach $6,315. From the perspective of profit and loss ratio, it seems to be better than BTC, especially for those who have little principal and missed the rise of BTC.

(PS: Since it is "carving a boat", it means that it may not necessarily be achieved, but from the analysis of previous data, there is a certain probability)