Kim Seo-joon, CEO of Hashed "Ethereum fair value 4747 dollars…57% undervalued"

Hashed CEO Kim Seo-joon unveiled a real-time valuation model that presents Ethereum's fair value at a level significantly higher than the current one, drawing renewed interest from institutional investors. The dashboard is designed to calculate Ethereum's intrinsic value by combining various traditional and on-chain indicators, signaling a change in the market analysis trend.

According to a report by BeinCrypto on the 27th (local time), Kim introduced a new dashboard that integrates eight valuation models, and the aggregate result analyzed Ethereum's fair value at 4747 dollars. This is about 57% higher than the current price, and it was explained that the figure was calculated by taking a weighted average of buy/hold/sell signals by indicator.

The model incorporates traditional analysis methods such as discounted cash flow (DCF) based on staking yields, price-to-earnings ratio (PER) based on a 25x multiple, earnings yield, and on-chain indicators including TVL multiples, staking scarcity, the ratio of TVL to market capitalization, and Metcalfe's law. In particular, Metcalfe's law produced the highest valuation, putting Ethereum's value at 9583 dollars.

On the other hand, the PER model and the earnings yield model valued Ethereum at 899 dollars and 1438 dollars respectively, suggesting that the current price may be overvalued according to those measures. Kim stated that he adjusted the results by applying weights of 9x, 5x, and 2x according to each model's reliability.

Ethereum currently remains around 3022 dollars, with a market capitalization of 365.4 billion dollars, about 38% lower than the all-time high of 4946 dollars. The dashboard provides real-time access to key data that institutional investors prioritize, including circulating supply, on-chain transaction volume, TVL, and staking size, in addition to price.

Kim Seo-joon has emphasized at recent global events that demand for on-chain-based real-world valuation centered on institutional investors is expanding, and the release of this analysis model is interpreted as a measure reflecting that trend.