Ethereum Trades Near Fair Value Above $3,000 With Neutral Market Indicators

Ethereum is trading at $3,053.19, hovering near fair value after climbing above $3,000. The market value to realized value ratio stands at 1.27, placing the current price approximately 27% above the realized price of $2,315. Exchange reserves have declined to a record low of 16 million ETH as long-term holders shift coins into staking and decentralized finance protocols.