CryptoQuant CEO Ki Young Ju noted that while Ethereum’s MVRV is rising quickly, onchain activity levels suggest it may not be overvalued.
A key metric used to determine whether Ether (ETH) is overvalued or not has been “heating up” relative to Bitcoin (BTC) — though one analyst argues the asset may not be in overbought territory just yet.
Crypto analysis firm CryptoQuant CEO Ki Young Ju noted that while Ethereum’s Market Value Realized Value (MVRV) is rising quickly — it has also come with an uptick in transaction volume and active addresses on the Ethereum network.
“ETH MVRV is rising faster than BTC MVRV, suggesting ETH market is heating up relative to its on-chain fundamentals,” Ju wrote in a June 19 X post.
