6

The day before yesterday, I was surprised to see Standard Chartered Bank also calling for bottom fishing. In their email to clients, they mentioned that they believe those microstrategy and ETF investors have only bought 4.9% of ETH, which is indeed quite low and far from their set target of 10%.

Upon closer inspection, the mNAV multiples of BMNR and SBET, the leaders in Ethereum microstrategy, are actually lower than that of the Bitcoin leader Strategy. This operation really left me stunned. It’s worth noting that these Ethereum assets can also earn an additional 3% staking yield, so logically, they should be valued higher.

Therefore, I still maintain the view that ETH can reach 7500 by the end of the year; this goal still feels quite reliable. At this position, there is indeed an opportunity for bottom fishing, especially seeing that even traditional financial institutions are starting to call for a bottom, indicating that market sentiment may have really reached a turning point.
#mNAV
#BMNR
#ETH走势分析 $ETH