#Ethereum #ETH #Fidelity

Fidelity believes that Ethereum is undervalued

Several onchain metrics confirm the undervaluation of Ethereum:

- MVRV Z-Score fell to -0.18, entering the “undervaluation” zone on March 9, such values historically coincided with the market bottom;

- The Net Unrealized Profit/Loss (NUPL) indicator fell to zero, indicating the surrender phase, when unrealized profit is equal to losses;

- The average purchase price of ETH ($2020) is higher than the current rate;

- The BTC/ETH ratio fell to the minimum value since mid-2020 - 0.13;

- The number of active addresses in the Ethereum network reached a new record high of 13.6 million (+74% per week).$ETH

@CryptoEnthusiastCommunity