The MVRV index of ETH has dropped to 0.87, a new low since December 2022
Golden Finance reports, according to data from the on-chain data analysis platform IntoTheBlock, Ethereum's Market Value to Realized Value ratio (MVRV) has dropped to 0.87, the lowest level since December 2022. MVRV is an important indicator of market sentiment for crypto assets, and the current value may indicate that ETH is in a relatively undervalued range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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MoreData: If ETH falls below $3,341, the cumulative long liquidation intensity on major CEXs will reach $1.155 billions
Data: In the past 24 hours, total liquidations across the network reached $235 million, with long positions liquidated for $95.18 million and short positions liquidated for $140 million.
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