#What will ETH's price be with expected ETF trading?#

This Data May Ignite the Rise for Ethereum
Ethereum continues to make a mark on recent days.
According to this, the MRVR data surpassed Bitcoin.
This can make the asset appreciate in value.
An important data used to determine whether Ethereum is overvalued has risen compared to Bitcoin, but an analyst argues that the asset may not yet be in the overbought zone. Crypto analysis firm CryptoQuant CEO Ki Young Ju stated that Ethereum's Market Value to Realized Value (MVRV) is rapidly increasing, accompanied by an increase in transaction volume and active addresses on the Ethereum network.
Attention-Grabbing Data for Ethereum
Ju explained in a post dated June 19th that the ETH MVRV data rose faster than the BTC MVRV data, indicating that the Ethereum market is warming up according to on-chain fundamentals. MVRV indicates whether an asset is trading above or below its fair value, which is the difference between the price users pay for the asset and the current market price.
According to Santiment data, Ethereum's MVRV ratio reached 91.43, a 29.9% increase compared to Bitcoin in the last 30 days, while Bitcoin's MVRV ratio reached 127.41, a 10.8% decrease during the same period.
A high MVRV implies that Ethereum's market value is higher than its realized value; indicating that it is overvalued and there may be a potential for future selling. However, Ju suggests that the high MVRV data may not scare investors as spot Ethereum ETF funds are expected to trade soon.
Ju, referring to the timeline of the ETF trade transactions that SEC Chairman Gary Gensler said would start this summer, added that considering the current ETF situation, this could only be an Ethereum season. Eric Balchunas suggested that this could start as early as July 2.
What's Happening in the Ethereum World?
Crypto analyst Yoddha pointed out the current price position of Ethereum on the chart and noted a slight consolidation after the morning star formation; this is a signal of an upward reversal from the bottom of the downtrend. Yoddha shared the following statement on June 19 regarding the matter:
"Ethereum price is holding up pretty well and seems ready to go crazy. It will be above $10,000 before the end of the year. Mark my words."

After Consensys announced on June 18th that the United States Securities and Exchange Commission (SEC) had concluded its investigation into whether Ethereum is classified as a security or not, it rose above the critical $3,500 level with a 1.37% increase.
According to TradingView data, Ethereum's dominance in the cryptocurrency market has increased significantly by 6.62% in the last seven days. Meanwhile, Bitcoin's dominance experienced a slight decrease of 0.23% during the same period.