Opinion: ETH is attracting attention from ETF buyers, and its growth potential may be underestimated

According to Coindesk, the market cap-to-realized-value ratio (MVRV) of Ethereum (ETH) relative to Bitcoin (BTC) has fallen to its lowest level since 2019, indicating that ETH may be undervalued. The ETH/BTC ETF holdings ratio has risen significantly since the end of April, indicating that institutional investors expect ETH to outperform BTC, likely driven by the recent Pectra upgrade and an improving macroeconomic environment. On-chain data shows that selling pressure on ETH has eased and trading volumes have increased, supporting its potential uptrend. Currently, the ETH/BTC price ratio has rebounded 38% from its January 2020 low, and investors and traders are betting that ETH has bottomed out, potentially triggering a new "counterfeit products season". (CoinDesk)