News

According to a report by Jinse Finance, a new report from CryptoQuant states that ETH has quietly fallen to a historically rare range, as a market signal indicates that ETH is significantly undervalued compared to BTC. This signal comes from Ethereum's ETH/BTC Market Value to Realized Value (MVRV) metric, which is a relative valuation indicator used to measure market sentiment and historical trading patterns. Historically, whenever this metric reaches similarly low levels, ETH has achieved significant gains and outperformed BTC substantially. CryptoQuant believes that investors seem to have noticed this. With the demand for ETH ETFs rising sharply, the holding ratio of ETH/BTC ETFs has increased significantly since the end of April. This shift in allocation suggests that institutional investors expect ETH to outperform BTC, possibly driven by the recent Pectra upgrade or a more favorable macroeconomic environment. CryptoQuant believes that the current ETH/BTC price ratio has rebounded significantly, indicating that investors and traders are betting that the market has bottomed out, and the "altcoin season" may arrive soon.

According to a report by Jinse Finance, monitored by on-chain analyst Onchain Lens (@OnchainLens), a newly created wallet address has withdrawn 1.79 trillion PEPE tokens from the exchange, valued at approximately 22.22 million USD.