$MOVE opened four days ago, and the price stabilized at 0.69

Corresponding to a circulating market value of 1.544 billion USD and a total market value of 6.869 billion USD, is this market value currently overvalued or undervalued? Here is a revised market value comparison chart for your reference.

Four sectors were selected as comparison objects: Move language, modularization, Layer 1 public chain, and Layer 2 public chain. Movement occupies two of these tracks: Move language + modularization. Currently, the leader in Move language is $SUI, with a circulating market value of 13.816 billion USD; the leader in modularization is $TIA, with a circulating market value of 3.354 billion USD.