• Ethereum’s supply hits a new high, increasing selling pressure and hindering price growth.
• The Dencun upgrade reduced fees, weakening Ethereum’s deflationary mechanism.
• Ethereum’s Pectra upgrade brings key improvements, offering hope for future scalability.

Ethereum may be poised for a comeback as the latest on-chain data from CryptoQuant signals a rare undervaluation relative to Bitcoin, hinting at a possible accumulation phase. The analytical platform’s data indicated that ETH/BTC MVRV is low, signaling a possible entry point for buying. Historically, ETH outperformance has been preceded by such low levels. However, existing fundamentals indicate several impediments that may cap a vigorous comeback in the price of Ethereum.

ETH’s supply now exceeds 120.7 million ETH, an all-time high. This shows a change from the post-merger deflationary perspective. The rise in supply p…

The post Can Ethereum Overcome Rising Supply and Weakened Demand? The Pectra Upgrade’s Role appeared first on Coin Edition.

• Ethereum’s supply hits a new high, increasing selling pressure and hindering price growth.
• The Dencun upgrade reduced fees, weakening Ethereum’s deflationary mechanism.
• Ethereum’s Pectra upgrade brings key improvements, offering hope for future scalability.

Ethereum may be poised for a comeback as the latest on-chain data from CryptoQuant signals a rare undervaluation relative to Bitcoin, hinting at a possible accumulation phase. The analytical platform’s data indicated that ETH/BTC MVRV is low, signaling a possible entry point for buying. Historically, ETH outperformance has been preceded by such low levels. However, existing fundamentals indicate several impediments that may cap a vigorous comeback in the price of Ethereum.

ETH’s supply now exceeds 120.7 million ETH, an all-time high. This shows a change from the post-merger deflationary perspective. The rise in supply p…

The post Can Ethereum Overcome Rising Supply and Weakened Demand? The Pectra Upgrade’s Role appeared first on Coin Edition.