Ethereum (ETH) grossly undervalued at present prices, top trader lists four reasons why ETH $ETH
thinks the second largest cryptocurrency by market capitalization, Ethereum, is tremendously undervalued. He draws his deduction, citing that given the usage, adoption, dominance and comparison to market caps across the crypto space as well as its technology, ETH might be tremendously undervalued.Given the usuage, adoption, dominance, and comparison to caps across the space ,At the time of writing, ETH was trading down at $1,804, according to data from CoinMarketCap, after shedding 3.
ETH remains below the key $2,000 level it briefly broke through in April following the Shapella upgrade. In the past day, following the release of lower-than-expected CPI data, it rose briefly to highs of $1,888 on May 10 before declining. The Ethereum network continues to see greater demand as market participants make moves to bringing meme mania back to crypto. The mania around meme coin PEPE recently drove a remarkable increase in profitability for validators running the Ethereum network.
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