Ethereum (ETH) is currently trading at $3,034, significantly below its modeled “intrinsic value,” according to ETHval, a live valuation dashboard launched by Hashed CEO Simon Kim.

Key Insights from ETHval

• The Composite Fair Value stands at $4,777.5, implying a 57.8% upside versus spot.
• The median fair value across eight models is $4,026.68, or 33.8% above current price.
• Of the eight models, ETHval signals five “buy,” one “hold,” and two “sell.”

How ETH’s Fair Value Is Calculated

ETHval aggregates eight valuation frameworks, each tagged with reliability:

1. TVL Multiple Model: Uses total value locked (TVL) in DeFi with a 7× multiple → $4,026.6, 32.7% undervalued (medium reliability).
2. MC/TVL Fair Value Mean-Reversion: High reliability → $3,453.1, 13.8% above spot (“fair”).
3. DCF (Staking) Model: Discounts future staking rewards → $9,101.9, 200% upside.
4. Metcalfe’s Law Model: Scales value with network effect → $9,585.9, 216.8% above spot.
5. Ethereum L2 Ecosystem Model: Includes rollup TVL → $4,640.0, 52.9% upside (low reliability).
6. Staking Scarcity Model: Accounts for liquid-supply contraction → $3,538.2, 16.6% undervalued (low reliability).
7. P/E Ratio Model: Annualized protocol fees × 25 → $957.4, 68.4% overvalued (high reliability).
8. Revenue Yield Model: Targets 2.5% yield → $1,531.8, 49.5% overvalued (high reliability).

To calculate the composite, ETHval weights high-reliability models ×9, medium ×5, and low ×2, which amplifies bullish signals from the DCF and Metcalfe frameworks.

Takeaway

Despite some models indicating overvaluation, ETHval concludes that Ethereum is strongly undervalued, with a live fair-value band stretching from $957 on the bearish side to $9,585 on the bullish side.

ETH continues trading near $3,029, offering a quantifiable perspective on its potential upside based on fundamentals rather than pure sentiment.