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Fidelity Report: Multiple on-chain metrics indicate ETH price is undervalued
Author: Biraajmaan Tamuly
Compiled by: Deep Tide TechFlow
Key points:
The report from Fidelity Digital Assets notes that several on-chain metrics for Ethereum indicate that the trading price of ETH is below its valuation.
The BTC/ETH market cap ratio has returned to mid-2020 levels.
The number of active addresses in Ethereum's layer two networks has reached a new high of 13.6 million.
New data from Fidelity Digital Assets suggests a cautiously optimistic outlook for Ethereum, indicating that its poor performance in the first quarter may present an opportunity. According to their latest Signals Report, Ether (ETH) fell by 45% in the first quarter, erasing gains made after the U.S. elections, having peaked at $3,579 in January.
Compiled by: Deep Tide TechFlow
Key points:
The report from Fidelity Digital Assets notes that several on-chain metrics for Ethereum indicate that the trading price of ETH is below its valuation.
The BTC/ETH market cap ratio has returned to mid-2020 levels.
The number of active addresses in Ethereum's layer two networks has reached a new high of 13.6 million.
New data from Fidelity Digital Assets suggests a cautiously optimistic outlook for Ethereum, indicating that its poor performance in the first quarter may present an opportunity. According to their latest Signals Report, Ether (ETH) fell by 45% in the first quarter, erasing gains made after the U.S. elections, having peaked at $3,579 in January.
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ETH
1,804.79
-1.22%
