Ethereum

Value

when

Rise

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Ethereum valuation metric MVRV is heating up, but on-chain activity levels suggest it may not be overvalued.</li> 
 <li>ETH is now trading near $3,600 with predictions seeing ETH at $10,000 by the end of 2024.</li> 
</ul> 
<p>According to the latest reports coming from CryptoQuant CEO, Ki Young Ju, an important metric used to determine whether Ethereum is overvalued or not, has been heating up compared to Bitcoin.</p> 
<p>In a post on X, Ki Young Ju, noted that Ethereum’s Market Value Realized Value (MVRV) is rising faster compared to Bitcoin MVRV, and this suggests that the ETH market is heating up relative to its on-chain fundamentals.</p> 
<p>He noted that given the current ETF situation, this might be an ETH-only season, and historically when ETH surges, other alts tend to follow suit as well.</p> 
<p><a href="https://x.com/ki_young_ju/status/1803533050975793209/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GQdvlQVXgAAKr6o?format=jpg&amp;name=4096x4096" alt="" width="4000" height="2250" title="Ethereum Could Reach $10k In 2024, Despite MVRV Rise 12"></a></p> 
<p>He<a href="https://x.com/ki_young_ju/status/1803533054385737966" rel="nofollow" target="_blank"> said</a> that the indicator identifies trends by calculating the 180-day moving average of the MVRV difference between Ethereum and Bitcoin over time.</p> 
<p>The MVRV metric shows when an asset is trading above or below its fair price which is mainly the difference between the price that users paid for it and the current market price.</p> 
<p>Santiment data reveals that in comparison to Bitcoin over the past 30 days, Ethereum’s MVRV has jumped almost 30% to reach over 91% and Bitcoin’s MVRV has gone the opposite way, dropping 10.8% to reach over 127% over the same period of time.</p> 
<p><a href="https://app.santiment.net/charts/HWCegaMM__sCl" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://s3.cointelegraph.com/uploads/2024-06/5108384b-38f4-4370-af06-2f8aa127a96f.png" alt="5108384b 38f4 4370 af06 2f8aa127a96f" width="1759" height="1119" title="Ethereum Could Reach $10k In 2024, Despite MVRV Rise 13"></a></p> 
<p>A high MVRV suggests that the market value of ETH is higher than its realized value and this could suggest that the ETH market is overvalued, which could trigger a potential sell-off in the future.</p> 
<p>On the other hand, Ju suggested that with ETH ETFs going live soon, the high MVRV is unlikely to scare away investors.</p> 
<p>According to the latest reports, <a href="https://crypto.ro/en/news/ethereum-etfs-could-launch-before-july-4-bitwise-updates-s-1-form/">ETH ETFs</a> could go live before July 4.</p> 
<h2 id="eth-could-reach-10-000-before-the-end-of-2024">ETH could reach $10,000 before the end of 2024</h2> 
<p>Pseudonymous crypto technical analyst Yoddha said that there are signals of a bullish reversal from the bottom of a downtrend for ETH.</p> 
<p>In a <a href="https://x.com/CryptoYoddha/status/1803486954748772688" rel="nofollow" target="_blank">post</a> on X from June 19, he wrote that ETH is holding up the price pretty well and looks ready to reach $10,000 before the end of 2024.</p> 
<p><a href="https://x.com/CryptoYoddha/status/1803486954748772688/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GQdF0o8aQAEUGL1?format=jpg&amp;name=large" alt="GQdF0o8aQAEUGL1?format=jpg&amp;name=large" width="2048" height="1431" title="Ethereum Could Reach $10k In 2024, Despite MVRV Rise 14"></a></p> 
<p>At the moment of writing this article, ETH is trading near $3,600.</p> 
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<p>Ethereum is currently surrounded by optimistic price predictions due to more <a href="https://crypto.ro/en/news/high-call-option-activity-on-ethereum-predicts-potential-eth-rally-ahead/">important signals</a>.</p>

Ethereum Could Reach $10k In 2024, Despite MVRV Rise

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