Ethereum's MVRV and network activity are showing positive growth, says CryptoQuant CEO
According to Odaily, Ki Young Joo, CEO of CryptoQuant, noted that despite the rapid rise in Ethereum's market cap to realized value (MVRV), the volume of transactions and active addresses on the Ethereum network is also increasing. This suggests that it may not be exaggerated. In a June 19 article, Joe wrote: “The rise in ETH MVRV is faster than that of BTC MVRV, indicating that the ETH market is heating up relative to its on-chain fundamentals.” MVRV represents whether an asset is trading above or below its fair price, which is basically the difference between the price users pay for the asset and the current market price. Data from Santiment shows that in the past 30 days, Ethereum's MVRV has risen by 29.9% to 91.43%, while Bitcoin's MVRV has fallen by 10.8% to 127.41% over the same period.
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