Crypto Rover just shared some concerning news that can upset ETH traders. According to the report, ETH is currently significantly undervalued. While long-term holders can find the news concerning, this could open up a new opportunity for new traders.
While old holders believe they can face short-term losses, the undervalued characteristics of the market can provide a good entry point for those seeking undervalued assets. Therefore, on-chain analysts believe that ETH traders should not lose hope, as a price rally may occur due to heightened market interest.
The Buzz
The landscape is currently buzzing with discussions regarding ETH’s price movement. Crypto Rover’s speculation initiated this. The token saw a 3.2% increase in its valuation in 24 hours. This price movement coincided with an overall spike in trading volumes. Approximately 1.2 million ETH were traded across major ETFs within 24 hours.
There was a 15.7% increase in trade activity for ETH. Subsequently, the ETH deposit also increased by 8,000 ETH in the last week. Therefore, things are looking great for the ETH landscape at the moment. Moreover, trading pairs such as ETH/BTC and ETH/USDT demonstrated significant traction.
Indicators such as positive price action, a surge in volume, and on-chain activity suggest that traders have begun to bet on the token’s undervaluation. This means the token’s price movement will increase, resulting in a significant rise in ROI compared to current levels.
This could prove beneficial for ETH investors and the overall decentralized landscape as a whole.
