According to IntoTheBlock data, the Ethereum MVRV ratio is around 0.9 on March 18, which is at a bear market level.
BlockBeats note: MVRV is an indicator used to compare the current market value of an asset with its realized value, providing insights into whether the asset is overvalued or undervalued.
This indicator helps identify points of extreme market sentiment - whether the trading price of the asset is above or below the cost basis of most investors. A high MVRV value usually indicates that the asset is overvalued and may enter a profit-taking phase, while a lower MVRV value usually indicates undervaluation and may be a buying opportunity.
