Is Ethereum Undervalued? It Should Be Way Higher, Analysis Shows Citing Metcalfe's Law
Portfolio Pulse from Murtuza Merchant
A new analysis suggests that Ethereum's native cryptocurrency, Ether (CRYPTO: ETH), is currently undervalued by 27% compared to its fair value. The report applies Metcalfe's law, which states that the value of a network is proportional to the square of its active users, to Ethereum. It also highlights Ethereum's diverse application use cases and its surpassing of Bitcoin (CRYPTO: BTC) in terms of active users in 2023.
September 18, 2023 | 2:00 pm
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POSITIVE IMPACT
Ether is currently undervalued by 27% according to a new analysis. Ethereum's diverse application use cases and its surpassing of Bitcoin in terms of active users in 2023 are highlighted.
The analysis suggests that Ether is undervalued, which could lead to an increase in its price as the market corrects this. The report's highlighting of Ethereum's diverse use cases and its surpassing of Bitcoin in terms of active users in 2023 also suggests a positive outlook for Ethereum.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The report highlights that Ethereum has surpassed Bitcoin in terms of active users in 2023.
The report's highlighting of Ethereum surpassing Bitcoin in terms of active users in 2023 could be seen as a negative for Bitcoin, as it suggests that Ethereum is becoming more popular.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60