Based solely on stablecoin legislation and the total market capitalization of the cryptocurrency market, Ethereum has been severely undervalued. Ethereum is the means of production for the virtual economy. Currently, Ethereum's market value is significantly underestimated, because the valuation paradigm in the cryptocurrency market has not yet shifted from the logic of mined coins to the logic of government bonds.
Interestingly, the Ethereum team is not a startup, but people always tend to view Ethereum from a commercial company perspective. Once Ethereum is truly valued as a decentralized sovereign asset, its value will undergo a qualitative change.
Based on market capitalization ratio, Ethereum is currently severely undervalued ~