7 May 2025
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Ethereum Accumulation Addresses Surge While Analysts Predict Possible Rally
Crypto trader Coinvo suggests Ethereum (ETH) is undervalued at approximately $1,700, despite an 8% rise over two weeks. It remains down 43% year-over-year and 63.6% from its all-time high (ATH). In contrast, Bitcoin (BTC) is only 13.7% below its ATH.
Key Insights on Ethereum
- Ethereum faces competition from smart contract platforms like Solana (SOL), SUI, and Polkadot (DOT).
- On-chain metrics indicate potential accumulation; ETH inflows into accumulation addresses have reached record highs.
- The Market Value to Realized Value (MVRV) Z-score is in the green zone, historically signaling market bottoms.
- Exchange reserves for ETH are at multi-year lows, suggesting reduced selling pressure.
- Analyst Crypto Rover compares current price action to BTC’s trajectory in 2021, indicating potential for new ATH.
Concerns exist regarding a possible further decline in ETH's price due to macroeconomic factors, including trade tariffs. As of now, ETH is trading at $1,754, down 2.1% in the last 24 hours.