• bitcoinBitcoin (BTC) $ 108,138.00
  • ethereumEthereum (ETH) $ 2,518.16
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.22
  • bnbBNB (BNB) $ 655.43
  • solanaSolana (SOL) $ 147.62
  • usd-coinUSDC (USDC) $ 0.999905
  • tronTRON (TRX) $ 0.282835
  • dogecoinDogecoin (DOGE) $ 0.164173
  • staked-etherLido Staked Ether (STETH) $ 2,516.68
  • cardanoCardano (ADA) $ 0.577628
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 108,045.00
  • hyperliquidHyperliquid (HYPE) $ 39.06
  • wrapped-stethWrapped stETH (WSTETH) $ 3,037.09
  • suiSui (SUI) $ 2.89
  • bitcoin-cashBitcoin Cash (BCH) $ 482.62
  • chainlinkChainlink (LINK) $ 13.20
  • leo-tokenLEO Token (LEO) $ 9.04
  • avalanche-2Avalanche (AVAX) $ 17.81
  • usdsUSDS (USDS) $ 0.999864
  • stellarStellar (XLM) $ 0.238118
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 2,697.82
  • the-open-networkToncoin (TON) $ 2.73
  • wethWETH (WETH) $ 2,518.71
  • litecoinLitecoin (LTC) $ 86.59
  • hedera-hashgraphHedera (HBAR) $ 0.154292
  • whitebitWhiteBIT Coin (WBT) $ 44.89
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999733
  • moneroMonero (XMR) $ 313.74
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 108,120.00
  • bitget-tokenBitget Token (BGB) $ 4.42
  • polkadotPolkadot (DOT) $ 3.37
  • uniswapUniswap (UNI) $ 6.91
  • pepePepe (PEPE) $ 0.000010
  • aaveAave (AAVE) $ 268.40
  • daiDai (DAI) $ 0.999856
  • pi-networkPi Network (PI) $ 0.471217
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • okbOKB (OKB) $ 48.93
  • bittensorBittensor (TAO) $ 322.24
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • aptosAptos (APT) $ 4.40
  • jito-staked-solJito Staked SOL (JITOSOL) $ 179.21
  • nearNEAR Protocol (NEAR) $ 2.13
  • internet-computerInternet Computer (ICP) $ 4.78
  • crypto-com-chainCronos (CRO) $ 0.081001
  • ethereum-classicEthereum Classic (ETC) $ 16.31
  • ondo-financeOndo (ONDO) $ 0.775867
  • susdssUSDS (SUSDS) $ 1.06
  • usd1-wlfiUSD1 (USD1) $ 0.999756
  • kaspaKaspa (KAS) $ 0.075550
  • fasttokenFasttoken (FTN) $ 4.44
  • mantleMantle (MNT) $ 0.563031
  • gatechain-tokenGate (GT) $ 15.34
  • cosmosCosmos Hub (ATOM) $ 3.99
  • vechainVeChain (VET) $ 0.020824
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.670203
  • tokenize-xchangeTokenize Xchange (TKX) $ 21.56
  • official-trumpOfficial Trump (TRUMP) $ 8.58
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 108,035.00
  • skySky (SKY) $ 0.077472
  • render-tokenRender (RENDER) $ 3.14
  • ethenaEthena (ENA) $ 0.254300
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.179302
  • arbitrumArbitrum (ARB) $ 0.322085
  • quant-networkQuant (QNT) $ 108.91
  • filecoinFilecoin (FIL) $ 2.26
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,517.43
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.45
  • algorandAlgorand (ALGO) $ 0.173857
  • worldcoin-wldWorldcoin (WLD) $ 0.876831
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998196
  • usdtbUSDtb (USDTB) $ 0.999682
  • sei-networkSei (SEI) $ 0.260244
  • kucoin-sharesKuCoin (KCS) $ 11.02
  • binance-staked-solBinance Staked SOL (BNSOL) $ 156.54
  • bonkBonk (BONK) $ 0.000018
  • usdt0USDT0 (USDT0) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.438445
  • nexoNEXO (NEXO) $ 1.21
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,639.20
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,869.65
  • fartcoinFartcoin (FARTCOIN) $ 1.17
  • spx6900SPX6900 (SPX) $ 1.23
  • flare-networksFlare (FLR) $ 0.016646
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • injective-protocolInjective (INJ) $ 10.82
  • celestiaCelestia (TIA) $ 1.50
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.016405
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.57
  • sonic-3Sonic (S) $ 0.312065
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999518
  • blockstackStacks (STX) $ 0.650197
  • xdce-crowd-saleXDC Network (XDC) $ 0.060870
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,695.48
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 2,644.99
  • syrupusdcSyrupUSDC (SYRUPUSDC) $ 1.11
  • pax-goldPAX Gold (PAXG) $ 3,343.53
  • optimismOptimism (OP) $ 0.532128
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 107,752.00
  • kaiaKaia (KAIA) $ 0.154720
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 108,005.00
  • paypal-usdPayPal USD (PYUSD) $ 0.999791
  • wbnbWrapped BNB (WBNB) $ 655.26
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,650.76
  • dogwifcoindogwifhat (WIF) $ 0.844472
  • clbtcclBTC (CLBTC) $ 108,904.00
  • story-2Story (IP) $ 2.90
  • tether-goldTether Gold (XAUT) $ 3,335.80
  • the-graphThe Graph (GRT) $ 0.082606
  • immutable-xImmutable (IMX) $ 0.426527
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.24
  • vaultaVaulta (A) $ 0.481193
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 165.61
  • msolMarinade Staked SOL (MSOL) $ 192.73
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 2,720.31
  • flokiFLOKI (FLOKI) $ 0.000074
  • ousgOUSG (OUSG) $ 111.69
  • jito-governance-tokenJito (JTO) $ 2.05
  • theta-tokenTheta Network (THETA) $ 0.689019
  • superstate-short-duration-us-government-securities-fund-ustbSuperstate Short Duration U.S. Government Securities Fund (USTB) (USTB) $ 10.73
  • curve-dao-tokenCurve DAO (CRV) $ 0.499573
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.998329
  • lido-daoLido DAO (LDO) $ 0.724916
  • aerodrome-financeAerodrome Finance (AERO) $ 0.754233
  • zcashZcash (ZEC) $ 39.73
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • galaGALA (GALA) $ 0.013906
  • ethereum-name-serviceEthereum Name Service (ENS) $ 18.50
  • wrapped-hypeWrapped HYPE (WHYPE) $ 39.08
  • iotaIOTA (IOTA) $ 0.155324
  • bittorrentBitTorrent (BTT) $ 0.00000060
  • the-sandboxThe Sandbox (SAND) $ 0.241349
  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 107,362.00
  • jasmycoinJasmyCoin (JASMY) $ 0.012152
  • usual-usdUsual USD (USD0) $ 0.998200
  • saros-financeSaros (SAROS) $ 0.221030
  • walrus-2Walrus (WAL) $ 0.415812
  • syrupMaple Finance (SYRUP) $ 0.531790
  • tbtctBTC (TBTC) $ 107,883.00
  • super-oethSuper OETH (SUPEROETH) $ 2,518.68
  • tezosTezos (XTZ) $ 0.529507
  • pyth-networkPyth Network (PYTH) $ 0.096259
  • pendlePendle (PENDLE) $ 3.36
  • raydiumRaydium (RAY) $ 2.06
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,518.47
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,694.65
  • falcon-financeFalcon USD (USDF) $ 1.00
  • newton-projectAB (AB) $ 0.008033
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 2,604.07
  • flowFlow (FLOW) $ 0.323176
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 108,144.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,518.68
  • coredaoorgCore (CORE) $ 0.502332
  • true-usdTrueUSD (TUSD) $ 0.998135
  • bitcoin-svBitcoin SV (BSV) $ 24.86
  • decentralandDecentraland (MANA) $ 0.256853
  • ripple-usdRipple USD (RLUSD) $ 0.999714
  • staked-hypeStaked HYPE (STHYPE) $ 39.08
  • apecoinApeCoin (APE) $ 0.599292
  • chain-2Onyxcoin (XCN) $ 0.013883
  • thorchainTHORChain (RUNE) $ 1.31
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999902
  • venomVenom (VENOM) $ 0.208089
  • apenftAPENFT (NFT) $ 0.00000044
  • beldexBeldex (BDX) $ 0.060197
  • dexeDeXe (DEXE) $ 7.48
  • kavaKava (KAVA) $ 0.392183
  • morphoMorpho (MORPHO) $ 1.35
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.163948
  • based-brettBrett (BRETT) $ 0.042176
  • movementMovement (MOVE) $ 0.160397
  • hashnote-usycCircle USYC (USYC) $ 1.09
  • dog-go-to-the-moon-runeDog (Bitcoin) (DOG) $ 0.004099
  • heliumHelium (HNT) $ 2.21
  • usdbUSDB (USDB) $ 1.00
  • starknetStarknet (STRK) $ 0.111508
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006915
  • usddUSDD (USDD) $ 0.999984
  • dydx-chaindYdX (DYDX) $ 0.524746
  • build-onBUILDon (B) $ 0.391499
  • compound-governance-tokenCompound (COMP) $ 41.44
  • stader-ethxStader ETHx (ETHX) $ 2,677.38
  • neoNEO (NEO) $ 5.40
  • aioz-networkAIOZ Network (AIOZ) $ 0.320455
  • elrond-erd-2MultiversX (EGLD) $ 13.34
  • mog-coinMog Coin (MOG) $ 0.00000096
  • conflux-tokenConflux (CFX) $ 0.072905
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.999439
  • ecasheCash (XEC) $ 0.000019
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 107,989.00
  • kaitoKAITO (KAITO) $ 1.50
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,517.49
  • deepDeepBook (DEEP) $ 0.143192
  • axie-infinityAxie Infinity (AXS) $ 2.16
  • telcoinTelcoin (TEL) $ 0.003854
  • polygon-pos-bridged-dai-polygon-posPolygon PoS Bridged DAI (Polygon POS) (DAI) $ 1.00
  • eigenlayerEigenCloud (prev. EigenLayer) (EIGEN) $ 1.12

Undervalued Ether Catching Eye of ETF Buyers as Rally Inbound: CryptoQuant

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Undervalued Ether Catching Eye of ETF Buyers as Rally Inbound: CryptoQuant

ETH has quietly slipped into historically rare territory as one market signal shows its deeply undervalued compared to bitcoin (BTC), at a ratio not seen since 2019, a new CryptoQuant report says.

The signal comes from Ethereum’s ETH/BTC Market Value to Realized Value (MVRV) metric, a gauge of relative valuation that measures market sentiment and historical trading patterns.

Historically, whenever this indicator has reached similarly low levels, ETH has subsequently delivered significant gains and substantially outperformed BTC.

Undervalued Ether Catching Eye of ETF Buyers as Rally Inbound: CryptoQuant

Investors appear to be taking notice. Demand for the ETH ETF has sharply picked up, with the ETH/BTC ETF holdings ratio rising steeply since late April, according to data from CryptoQuant.

Undervalued Ether Catching Eye of ETF Buyers as Rally Inbound: CryptoQuant

This shift in allocation suggests institutional investors anticipate ETH will outperform BTC, potentially fueled by the recent Pectra upgrade or a more favorable macroeconomic environment.

Already, the ETH/BTC price ratio has rebounded 38% from its weakest level since January 2020, suggesting investors and traders are betting the bottom is in and an “alt season” could soon follow.

This echoes what some market participants have been telling CoinDesk.

March Zheng, General Partner of Bizantine Capital, said in a recent message that traders should remember that ETH has typically been the main on-chain altcoin indicator for risk-on, and its sizable upticks generally lead to broader altcoin rallies.

On-chain data further supports this optimism. ETH spot trading volume relative to BTC surged to 0.89 last week, its highest since August 2024, signaling renewed appetite from investors. A similar trend occurred between 2019 and 2021, when ETH went on to outperform BTC by fourfold.

CryptoQuant also notes that ETH exchange deposits, often an indicator of selling pressure, have dropped to their lowest relative level since 2020, implying investors anticipate higher prices ahead.

Undervalued Ether Catching Eye of ETF Buyers as Rally Inbound: CryptoQuant

(CryptoQuant)

For now, confirmation hinges on ETH decisively breaking above its key 365-day moving average against BTC.

Still, with compelling undervaluation, rising institutional interest, and diminishing selling pressure, ETH appears positioned for significant upside in the coming months.

But one thing ETH is still lagging on is network activity, as CryptoQuant flagged in a prior report. Without more people using Ethereum, it will be tough for the token’s price to lift off and head to the moon.

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