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

According to the report by Golden Finance, based on data from the on chain data analysis platform IntoTheBlock, the market value to realization ratio (MVRV) of Ethereum has dropped to 0.87, the lowest level since December 2022. MVRV is an important indicator for measuring the sentiment of the cryptocurrency market, and the current value may indicate that ETH is in a relatively undervalued range.