Opinion: ETH is attracting attention from ETF buyers, and its growth potential may be underestimated
According to online reports, Coindesk reported that the market capital-to-realized value ratio (MVRV) of Ethereum (ETH) relative to Bitcoin (BTC) dropped to its lowest level since 2019, indicating that ETH may be undervalued. The ratio of ETH/BTC ETF holdings has increased significantly since the end of April, indicating that institutional investors expect ETH to outperform BTC, which may be driven by the recent Pectra upgrade and improved macroeconomic environment. On-chain data shows that ETH's selling pressure has eased and trading volume has increased, supporting its potential upward trend. Currently, the ETH/BTC price ratio has rebounded 38% from its January 2020 low, and investors and traders are betting that ETH has hit bottom and could trigger a new "altcoin season."（CoinDesk）
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