Research Institution: ETH's current trading price is 27% lower than its fair value

ChainCatcher message, according to research conducted by the research institution under the RxR Opportunities Fund established in collaboration with Republic Crypto and Re7 Capital, indicates that it believes the current trading price of ETH is 27% lower than its fair value.

It is reported that RXR's fair value prediction is based on a mixed version of Metcalfe's Law, which includes the growing active user base on the Ethereum scaling network (Layer 2) and active users on the Ethereum mainnet to measure the network's fair value. Traditional Metcalfe's Law models often focus solely on the active user base on the mainnet.

RXR analyst Lewis Harland stated: "When we incorporate the active user base of the Ethereum scaling network into the model, the network valuation of Ethereum can better track the updated ML Index compared to ignoring that data. Assuming that user growth will never increase further, the valuation of ETH should be $275 billion (currently $196.7 billion, with a 27% price difference compared to fair value)."