Is Ethereum Undervalued? These Two On-Chain Data Reveal the Fact!

Jakarta, Pintu News – Ethereum (ETH) has been one of the worst-performing major assets of 2025 so far. However, don’t let that fool you!

Every day, tens of billions of dollars in stablecoins move through the Ethereum network, making it the primary settlement layer for global dollar liquidity. Large holders also continue to accumulate ETH, despite its price slump.

Is the general market missing the bigger picture?

Putting Ethereum’s bad year in context

Ethereum has had a rough start to 2025. While the prices of silver, gold, and US stocks have been rising steadily, ETH has fallen by around 12% since the beginning of the year, making it one of the weakest performing major assets.

Read also: Ethereum Price Rises to $3,000 Today: Technical Signals Reinforce the Shift!

Bitcoin (BTC) performed slightly better, while the altcoin market plunged even deeper.

Capital seems to be moving to precious metals and traditional risk assets, while the price of Ethereum (ETH) is not moving much. At first glance, the market seems to have lost interest in it.

However, price performance alone does not tell the whole story.

Where money actually changes hands

In an average day, the Ethereum Mainnet processes around $90-100 billion worth of stablecoin transactions, far more than any other network.

According to Leon Waidmann, Head of Research at OnChainHQ, most of these transactions involve USDT and USDC which are used for payments, corporate financial operations, and settlement of real transactions.

Other networks are growing, some even cheaper or faster. However, stablecoin volumes remain concentrated on Ethereum, as this is where trust, neutrality and finality matter most.

Users are willing to pay higher transaction fees – because at this scale, settlement failure is not an option.

While prices are stagnant…

The big holders behave very differently.

Read also: “Altcoin Season Isn’t Over” – Why is 2026 Worth the Spotlight?

ETH has repeatedly traded close to the realized price of the accumulation address, which is the average entry price of long-term “whales”. Instead of selling amid market weakness, these wallets continued to add to their ETH holdings.

The timing of this is also interesting. Whale profits have shrunk almost to zero – a point at which many investors would normally reduce exposure. However, inflows to accumulation addresses have increased. That signifies great patience!

Large holders are not selling as in a long bear market. Instead, the increased buying reflects their confidence in Ethereum and the view that the token is undervalued.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMB Crypto. Is Ethereum undervalued? These 2 on-chain signals say… Accessed on December 22, 2025