A 10% move higher in Ethereum (CRYPTO: ETH) over the past 24 hours (as of 2:45 p.m. ET) has some investors rethinking their recent portfolio allocation moves. Here’s why I think this recent surge could be indicative of value-seeking investor behavior, which could last longer than some think.
Most of the recent discussion I’ve seen on Ethereum centers on this network’s upcoming, so-called Glamsterdam hard fork. This hard fork aims to improve scalability, user experience, and security, as well as quantum resistance.
Overall, I think Ethereum’s status as the go-to network for on-chain application development has driven some of the most robust network effects in the crypto sector. Indeed, there’s a reason why this token is in the number two spot in terms of market capitalization.
I’m not expecting that to change anytime soon, and Ethereum still looks cheap to me, even after today’s impressive surge. The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ethereum wasn’t one of them.
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