Based on AMBCrypto, Ethereum price consolidated near $3,000 in late November, up 15% from a recent low of $2,600 but still 40% below its August peak of $4,900. CryptoQuant CEO Ki Young Ju stated that 10 out of 12 Ethereum valuation models indicate the asset is undervalued, with a median fair value of $4,800. This suggests ETH is 59% undervalued at its current level. However, two metrics—the P/S ratio and revenue yield—suggest overvaluation at $820 and $1,200, respectively. Historical data also shows ETH has bounced off the realized price since 2019, hinting at a potential local bottom. ETF inflows initially boosted ETH to nearly $5,000, but recent outflows have dragged the price below $3,000. Institutional inflows have shown a slight recovery, which could support a rebound if sustained. The upcoming Fusaka upgrade on December 3 is seen as a potential bullish catalyst, as it will increase gas limits and ETH burn rates, enhancing deflationary pressure. However, selling pressure from ICO-era whales, such as a $120 million ETH withdrawal, could hinder recovery.
CryptoQuant CEO Says Ethereum Is 59% Undervalued Based on Valuation Models
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