On Wednesday (July 27), $ETH, Ethereum’s native token, outperformed other top 10 cryptoassets (by market cap) by surging over 9% (vs USD) to take the price back above the $1500 level.
According to data from TradingView, at 4:31 p.m. UTC on July 27, the $ETH price hit $1518.57, which is (so far) today’s intraday high. Currently (as of 5:42 p.m. UTC on July 27), $ETH is trading around $1503.25, up 8.7% in the past 24-hour period.
Earlier today, global macro investor Dan Tapiero pointed to an important metric and suggested that Ethereum is undervalued at $1500 (especially when you consider that the last time the Ethereum network had this amount of usage $ETH was trading over the $3,000 level):
Here are a few interesting on-chain metrics from The Block’s Data Dashboard:
Finally, according to blockchain analytics firm Glassnode, the total value in the ETH 2.0 deposit contract reached 13,163,109 ETH earlier today: