The cryptocurrency world is slowly realizing that Ethereum is one of the most undervalued cryptocurrencies ever. Although it is the second-largest cryptocurrency with a market capitalization of more than $ 26 billion, the use of the Ethereum network is on ATH. Likewise, a number of other statistics indicate that the price of Ethereum is much lower than it should be compared to the price of Bitcoin.

John Lilic, one of ConsenSys 's employees (blockchain company), recently tweeted that Ethereum is extremely undervalued against Bitcoin. In particular, he compared the market capitalization of Ethereum ($ 26 billion) to the market capitalization of Bitcoin ($ 167 billion). At first glance, this a huge difference. At the beginning of this year, however, the difference in market capitalizations of the two largest cryptocurrencies was more than 10-fold. Currently, BTC's market capitalization is only about 6.3 times larger.

Fee volumes of individual cryptocurrencies also play in favor of Ethereum. The volume of Bitcoin fees fell by more than 80% compared to the volume of Ethereum fees. An equally interesting metric can also be found when looking at “gas”, which is used in transactions within dApps (decentralized applications). Thus, the more gas used, the greater the interest in dApps - a huge plus for the Ethereum network in the long run. Only at the beginning of July did the amount of gas burned on Ethereum reached its ATH, currently hovering around this value.

Ethereum is also boosted by the fact that DeFi (decentralized finance) is currently experiencing exponential growth. Many new projects, exchanges, and tokens are gaining more and more supporters, and since the vast majority of these projects are built on Ethereum, the future of this cryptocurrency also looks very positive – mainly thanks to DeFi. It is for all these reasons that it seems that Ethereum is currently at a much lower price than it should be.