Odaily Planet Daily News: CryptoQuant's latest report points out that the market value to realized value ratio (MVRV) of Ethereum (ETH) relative to Bitcoin (BTC) has dropped to its lowest level since 2019, indicating that ETH may be undervalued. Historical data shows that at similar levels, ETH typically rises significantly and outperforms BTC. Since the end of April, the ETH/BTC ETF holding ratio has increased significantly, suggesting that institutional investors expect ETH to outperform BTC, possibly driven by the recent Pectra upgrade and improvements in the macroeconomic environment. On-chain data shows that the selling pressure on ETH has eased, and trading volume has increased, supporting its potential upward trend. Currently, the ETH/BTC price ratio has rebounded 38% from its low in January 2020, with investors and traders betting that ETH has bottomed out, which could trigger a new round of 'altcoin season'. (CoinDesk)

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