Crypto research firm RxR: ETH's current trading price is 27% lower than its fair value.

According to research conducted by the research institution under RxR Opportunities Fund, which was established in collaboration with Republic Crypto and Re7 Capital, the current trading price of ETH is 27% lower than its fair value. It is reported that RXR's fair value prediction is based on a hybrid version of Metcalfe's law, which includes an active user group on the Ethereum scaling network (Layer 2) that is constantly growing, as well as active users on the Ethereum mainnet to measure the network's fair value. Traditional Metcalfe's law models often only focus on the active user group on the mainnet. RXR analyst Lewis Harland said, "When we include the active user group on the Ethereum scaling network in the model, the valuation of Ethereum's network can better track the updated ML Index when this data is not ignored. Assuming that users will never grow further, the valuation of ETH should be $275 billion (currently $196.7 billion, a 27% discount from the fair price)."