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**Top XRP Trader Thinks Ethereum (ETH) Is Mispriced**
The crypto market has never been more unpredictable. Just when you think sentiment has reached rock bottom, a sudden shift occurs and prices skyrocket. This time around, one prominent trader thinks that Ethereum (ETH), once the darling of the DeFi space, is mispriced.
For those unaware, ETH currently sits at $1,430, which is roughly 70% off its all-time high. Market sentiment is decidedly bearish, with many believing that this downward trend will continue. However, one top XRP trader has a contrarian view: he thinks Ethereum is an absolute steal at these levels.
The trader, known for his astute analysis of the Ripple and XRP markets, points to several factors that make him believe ETH is undervalued. Firstly, he notes that Ethereum’s total value locked (TVL) remains strong, with a staggering $338 billion locked in decentralized finance applications. Meanwhile, its market capitalization has taken a significant hit, plummeting by nearly 70%. This disparity between TVL and market cap has led him to conclude that the asset is mispriced.
In an interview, he emphasized: “I’m not saying this is a buy-the-dip moment or anything, but I genuinely believe ETH’s fundamentals are stronger than ever. The DeFi space still relies on it for its functionality, and we’re seeing more institutional interest than ever before.”
As an aside, the article goes on to describe how some people think that Ethereum is not just undervalued but that the asset could potentially see a massive rally similar to what XRP has experienced in recent times.
Source: u.today
