Research firm RxR: ETH’s current trading price is 27% below its fair value

Odaily Planet Daily News According to the analysis of RxR, a research institution jointly established by Republic Crypto and Re7 Capital, the current trading price of ETH is 27% lower than its fair value. RXR’s fair value prediction is based on a hybrid 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 fair value of the network; the traditional Metcalfe’s Law Turcalf's Law model often only focuses on the active user group on the mainnet. RXR analyst Lewis Harland said in a research report released last week: "When we include the active user base of Ethereum's scaling network into the model, Ethereum's network valuation better tracks the updated ML Index (ML Index). ). Assuming that users never grow further, ETH should be valued at $275 billion (currently $196.7 billion, a 27% discount to fair value)." According to L2Beat data, in two years, Layer 2 protocol TVL has more than tripled, reaching more than 9 billion US dollars. (CoinDesk)