While Bitcoin is grabbing all the headlines, it should not be forgotten that the world’s second-biggest cryptocurrency by market cap Ethereum has also soared considerably in recent days.
That has resulted in a strong rally in the Grayscale Ethereum Trust (ETH) (OTC: ETHE) stock and over the course of the past week, it has rallied by 15%. The Ethereum token is the underlying asset in the fund and hence, the rally in the stock is understandable.
That being said, it is also necessary to point out that as of Tuesday the value of each share of ETHE was worth $12.15 worth of the Ethereum token. However, at the same time, the ETHE share was trading at $17 a share and that clearly indicates that it is overvalued.
If the shares continue to rise at a faster clip than that of the Ethereum token, the stock is going to continue to be overvalued. However, it should be noted that an investment in ETHE offers the easiest way for many investors to stay invested in Ethereum.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.
