Viewpoint: ETH is attracting attention from ETF buyers, and its growth potential may be undervalued

【Viewpoint: ETH is attracting attention from ETF buyers, and its growth potential may be undervalued】 According to Golden Finance, Coindesk reports that Ethereum (ETH)'s market capitalization to realized value ratio (MVRV) relative to Bitcoin (BTC) has fallen to its lowest level since 2019, indicating that ETH may be undervalued. Since the end of April, the ETH/BTC ETF holding ratio has significantly increased, 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, potentially triggering a new round of 'altcoin season'. (CoinDesk)