Ethereum’s discount to Bitcoin is deepening, but on-chain data hints this may not be the buy signal it once was. Meanwhile, the rise of crypto-native AI agents is luring capital elsewhere–with MIND of Pepe leading the charge.
Ethereum may appear undervalued when measured against Bitcoin, but according to analysts at CryptoQuant, that discount doesn’t necessarily make it a bargain. The platform’s latest weekly report shows that ETH’s MVRV ratio–an on-chain valuation tool–has dropped into “extremely undervalued” territory relative to BTC, levels that previously heralded major recoveries. Yet this time, market conditions suggest a more complicated picture.
Ethereum’s supply has been quietly expanding, undermining the deflationary narrative that once excited long-term holders. That reversal stems largely from the 2024 Dencun upgrade, which succeeded in reducing transaction fees but also collapsed the ETH burn rate. With fewer tokens being destroyed, Ethereum is back to inflating. Total supply recently hit an all-time high of 120.7 million, putting further pressure on its value proposition.
The network is also suffering from stagnant user metrics. Daily transaction counts and active addresses have declined notably since 2021 as activity has shifted to Layer 2 rollups. While these L2s help improve scalability, they inadvertently siphon demand from the mainnet, eating into Ethereum’s core utility, as well as institutional outflows that have shed some 400,000 ETH from ETF holdings this year alone.
The result is an asset that, while technically discounted, may be heading into a structurally slower growth phase. Even a sharp 30% rally last week, aided by the launch of Ethereum’s Pectra upgrade, has done little to sway on-chain sentiment. By contrast, smart money is now looking further afield–to corners of the market less bogged down by macro headwinds and more aligned with emerging tech narratives.
AI Agents Lead the Altcoin Charge
That’s where MIND of Pepe enters the conversation. In a market increasingly driven by artificial intelligence and automation, crypto-native AI agents are fast becoming the centre of attention. Capital has been flowing aggressively into AI-aligned altcoins. Among these, MIND of Pepe is quietly mounting one of the most watched presales in 2025.
Built at the intersection of meme coin culture and real AI utility, MIND of Pepe has already raised close to $9 million, but unlike other frog-themed tokens cashing in on virality, $MIND is anchored by actual product development. Its AI trading agent, launching imminently, scans platforms like X (formerly Twitter) and Reddit to monitor real-time sentiment shifts, trading signals and liquidity flows.
Using Retrieval-Augmented Generation (RAG), the agent pulls in live data to assess which coins are gaining traction and when. Its interface is user-friendly but powerful, delivering curated insights via an exclusive dashboard for token holders. Even casual traders can benefit from early alpha before trends go mainstream.
JOIN THE MIND OF PEPE PRESALE BEFORE IT GOES LIVE
More impressively, the AI agent goes beyond just analysis. When market activity cools, it engages directly with dApps to launch new tokens – giving $MIND holders first access before listings go public.
From ETH Undervaluation to AI Upside
The timing of this shift is no coincidence. As Ethereum struggles to retain its market share amidst fading institutional appetite and base-layer demand, the narrative around AI agent crypto is heating up.
Projects like Virtuals Protocol and Artificial Superintelligence Alliance have seen their token prices spike by double and triple digits in recent weeks and that’s before factoring in market movers like MIND of Pepe entering live deployment.
What makes $MIND even more compelling is its staking model. Investors can currently earn up to 249% APY by locking their tokens and nearly 1.4 billion have already been staked – underscoring growing community confidence in the protocol. With exchange listings on the horizon and the presale price locked at just $0.0037515, the entry point looks attractive for those seeking exposure to both meme coin enthusiasm and AI sector growth.
EXPLORE THE $MIND AI DASHBOARD EARLY
Importantly, MIND of Pepe doesn’t just promise functionality–it delivers it. Former Binance CEO Changpeng Zhao has said tokens without clear utility should not exist. MIND of Pepe’s team seems to have taken that message seriously. Its AI agent is launching before the token hits major exchanges, flipping the usual script of overpromising and underdelivering.
Smart Capital is Already Moving
With Ethereum now in a phase of structural uncertainty, investors are becoming more selective about where to allocate capital. Ethereum may well rebound again, especially if macro conditions improve, but this cycle appears different. The usual signals aren’t working as expected and many traders are pivoting to sectors with clear upside narratives and active momentum.
AI agent crypto is one of those sectors. It’s fast-moving, media-friendly and increasingly backed by working products rather than just whitepapers. MIND of Pepe exemplifies this shift – a meme coin with purpose, a product with traction and a community that’s growing by the day.
For those still watching ETH charts for a turnaround, it’s worth considering that opportunity might be unfolding elsewhere. As smart money begins reallocating into more innovative sectors, projects like MIND of Pepe could prove to be among the real winners of this altcoin season.
