Happy Prediction for ETH: Famous Analyst Makes the Point!

Ki Young Ju, CEO of crypto analysis firm CryptoQuant, stated that the Market Value to Realized Value Ratio (MVRV) for Ether (ETH) is rapidly increasing. Likewise, there is an increase in transaction volume and active addresses on the network.

“ETH MVRV is rising faster than $BTC MVRV, indicating $ETH is warming up relative to its on-chain fundamentals,” Ju wrote in an X post dated June 19. The MVRV ratio in question shows that an asset is trading above or below its fair price, which is the difference between the price users pay for the asset and the current market price.

Featured on-chain data in #Bitcoin (BTC) and #Ethereum (ETH)

According to Santiment data, compared to Bitcoin in the last 30 days, Ethereum's MVRV increased by 29.9 percent to 91.43 percent, while Bitcoin's MVRV went in the other direction, decreasing by 10.8 percent in the same period. It decreased to 127.41.

A high MVRV ratio means that Ether's market value is higher than its realized value. While this indicates that it is overvalued, it could also signal a potential sale in the future. When this data falls, it shows that the market has calmed down and the price is approaching its fair value.

Crypto analyst Yoddha touched on ETH's current price position on the chart and noted that there is consolidation following the “morning star technical structure” (a candle formation indicating the possible reversal of a downtrend). This signals an upward reversal from the bottom of the downtrend. “Ethereum is holding the price pretty well and looks poised to perform wildly,” Yoddha wrote on June 19. “It will be over $10,000 before the end of the year. “Mark my words,” he added.