ETH's MVRV indicator has dropped to 0.87, a new low since December 2022

according to 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 for measuring market sentiment of crypto assets, and the current value may indicate that ETH is in a relatively undervalued range.

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