Jan3 CEO Mow: Ethereum Overvalued by 150%

Samson Mow, the CEO of Jan3, has once again criticized Ethereum (ETH), the second-largest cryptocurrency by market value. Mow argues that ETH is currently overpriced and could face a significant price correction in the near future.

Mow recently resurfaced an old tweet from August 2022, where he discussed the valuation of Ethereum. At that time, ETH was trading at around $1,600 per coin, similar to its price earlier today. In contrast, Bitcoin was valued at $21,500 in 2022 but is now priced at around $80,000. Mow believes that Ethereum is overvalued relative to Bitcoin's valuation. He points out that Bitcoin has a total supply of less than 21 million coins, while Ethereum has a total supply of 122 million coins, with 72 million premined. According to Mow's calculations, if Ethereum had a supply of just 21 million coins like Bitcoin, it would be valued at $9,200 per coin. This means that investors are paying a premium of $9,300 to acquire one unit of Ethereum.

Mow's stance on Ethereum's overvaluation remains unchanged even after three years. He argues that the asset's price is not justified by its supply, with 60% of it being "printed from thin air." Mow's views on Ethereum's overvaluation have sparked debate within the cryptocurrency community, with some agreeing with his assessment while others disagree.

At the time of writing, ETH has been trading just above $1,500, having lost 7.2% of its value over the past 24 hours. The cryptocurrency recently experienced a steep decline as investor focus shifted to a potential bigger conflict between the U.S. and China. Cryptocurrencies rebounded on Wednesday following President Donald Trump’s announcement of a 90-day pause on tariffs for countries. However, crypto prices swiftly retraced today after a White House official confirmed that the total tariff rate on China now stands at 145%, not 125% as President Trump announced yesterday.