According to the data from Santiment, Ethereum’s NVT ratio is currently on a rise over the past few days, but its average has remained low. A low NVT ratio indicated that ETH’s network is currently undervalued which means the probability of market cap appreciation is larger than a decline.

Speaking of decline, Ethereum‘s exchange inflows reached a new low last witnessed below October 2020; right before the bull-run started. It can be inferred that selling pressure is finally reaching breaking point, after inflow reached a new high of 780k on 19th May.

By Amy Liu