CryptoQuant CEO: Ethereum MVRV indicator rises, but its price is not overvalued

Odaily News Ki Young Ju, CEO of CryptoQuant, noted that while Ethereum MVRV is rising rapidly, transaction volume and active addresses on the Ethereum network are also increasing, suggesting that it may not be overvalued. ETH MVRV is rising faster than BTC MVRV, which suggests that the ETH market is heating up relative to its on-chain fundamentals, Ju wrote in a June 19 article. MVRV indicates whether an asset is trading above or below its fair value, essentially the difference between the price a user pays for an asset and the current market price. Santiment data shows that over the past 30 days, Ethereum MVRV has risen 29.9% to 91.43%, while Bitcoin MVRV has fallen 10.8% to 127.41% during the same period. (Cointelegraph)