TechFlow news, according to Decrypt, Bitwise, a crypto asset management firm, has analyzed that Ethereum is currently in one of its "most deeply undervalued zones in years." Andre Dragosch, Bitwise's European Research Lead, stated there is a "fundamental mispricing" of Ethereum relative to on-chain activity and adoption metrics.
Data shows the Ethereum-to-Bitcoin ratio has dropped to 0.027, down 47% from a year ago. While Bitcoin has risen 3.72% year-to-date, Ethereum has declined by 20%. However, Bitwise analysis notes that historical data indicates Ethereum has delivered positive returns against Bitcoin in seven out of the past eight years during February, potentially signaling an upcoming rebound.
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