Odaily Planet Daily News: CryptoQuant’s latest report pointed out that the market value to realized value ratio (MVRV) of Ethereum (ETH) relative to Bitcoin (BTC) has dropped to its lowest level since 2019, indicating that ETH may be undervalued. Historical data shows that at similar levels, ETH typically surges and outperforms BTC. Since the end of April, the proportion of ETH/BTC ETF holdings has increased significantly, indicating that institutional investors expect ETH to outperform BTC, possibly driven by the recent Pectra upgrade and the improving macroeconomic environment. On-chain data shows that ETH’s selling pressure has eased and trading volume has increased, supporting its potential uptrend. Currently, the ETH/BTC price ratio has rebounded 38% from its January 2020 low, and investors and traders are betting that ETH has bottomed out, potentially sparking a new round of "altcoin season." (CoinDesk)