Santiment’s 30-day MVRV analysis places Ethereum in the deepest undervaluation band among large-cap coins, with a reading of -14.3%. ETH recently surged close to the prior cycle high near $5,000, but has struggled to reclaim the $2,000 level, leaving it roughly 60% below its all-time peak. While on-chain fundamentals show network upgrades, expansion of the rollup ecosystem, and staking enhancements, the price has not fully reflected this progress. The on-chain signal suggests robust activity and development even as token prices lag.
Bitcoin posted a 30-day MVRV of -6.9%, trading around $68,000 and about 46% below its highs. On-chain data indicate that short-term holders have seen profit declines, signaling that froth has cooled, though ETH’s magnitude remains larger. Chainlink sits at -5.1% MVRV, ranking third in the undervaluation list, with the price around $8.88 versus its 2021 high of $52.70 (about 83% down). The on-chain oracle infrastructure has expanded its role in DeFi and asset tokenization, yet LINK still trades far below its historical peak.
XRP and ADA round out the top five undervalued assets; XRP shows -4.1% and ADA -2.0% MVRV. XRP recently traded around $1.45, roughly 60% below its July 2022 high of $3.65, while ADA sits near $0.28, down about 91% from its 2021 peak. Despite the severity of the price draws, ADA’s 30-day MVRV remains around -2.0%, suggesting that much of the pain may have already been priced in. In summary, Ethereum leads the undervaluation among large caps, followed by Chainlink, XRP, and ADA, while Bitcoin remains in a managed consolidation.
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