Ethereum’s Valuation Gap Is Getting Hard to Ignore 👀

A growing discussion in the crypto space is pointing to Ethereum as one of the most undervalued major blockchains right now — not based on hype, but on fundamentals.

Here’s the key imbalance 👇

Ethereum secures ~59% of total crypto TVL

Yet ETH represents only ~14% of total crypto market cap

That’s a massive disconnect between economic activity and token valuation.

When you compare it with other major chains, the contrast becomes clearer:

Solana → ~7% TVL vs ~3% market cap

Tron → ~3.7% TVL vs ~1% market cap

BNB Chain → ~5.5% TVL vs ~4.5% market cap

Ethereum dominates where it matters most: DeFi liquidity, real usage, and capital trust. If market cap eventually realigns with on-chain value, ETH’s current pricing could look extremely conservative in hindsight.

💡 Big takeaway:

Markets often lag fundamentals. When the chain holding most of the value captures a much smaller share of valuation, it usually doesn’t stay that way forever.

Smart money watches TVL vs market cap — not just candles.

$ETH

ETH
ETH
1,959.19
-0.69%

$SOL

SOL
SOL
83.41
+1.47%

$BNB

BNB
BNBUSDT
612.41
+0.39%