ETH valuation report — March 2026

Full month, 2026-03-01 – 2026-03-31 (UTC)

Composite fair value$5,446

ETH close$2,104

Price vs fair value−61.4%

Band zonebelow −50%

Change over the month

vs 2026-02-28 (previous month end)

Item	Start2026-02-28	End2026-03-31	Change
Composite fair value	$4,514	$5,446	+20.6%
ETH close	$1,966	$2,104	+7.0%
Price vs fair value	−56.5%	−61.4%	−4.9 pp

What moved the fair value

Each model's change over the month and its share of the composite change (model change ÷ 12, because the composite is a simple average of 12 models).

Model	Start	End	Change	Effect on composite
Ecosystem Settlement (MV=PQ)	$20,741	$29,964	+44.5%	+$769
ETH Monetary (MV=PQ)	$1,352	$2,353	+74.1%	+$83.46
Staking DCF	$5,898	$6,311	+7.0%	+$34.45
Validator Economics	$3,820	$3,990	+4.5%	+$14.20
Staking Scarcity	$2,309	$2,460	+6.5%	+$12.56
App Capital	$4,626	$4,760	+2.9%	+$11.16
Liquidity Premium	$2,933	$3,061	+4.4%	+$10.65
Metcalfe's Law	$6,254	$6,217	−0.6%	−$3.06
TVL Multiple	$3,017	$3,005	−0.4%	−$0.99
Fee Yield	$5.42	$12.02	+122.0%	+$0.55
P/S Ratio (25x)	$4.18	$9.51	+127.4%	+$0.44
L2 Ecosystem	$3,209	$3,207	−0.1%	−$0.18

Largest effects: Ecosystem Settlement (MV=PQ) +$769, ETH Monetary (MV=PQ) +$83.46, Staking DCF +$34.45.

Band position

Days the ETH close spent in each fair value band this month (close vs that day's composite).

above +100%0 d
+50% ~ +100%0 d
+25% ~ +50%0 d
0% ~ +25%0 d
−25% ~ 0%0 d
−50% ~ −25%0 d
below −50%31 d

Ended in the below −50% band. Gap range in the month: −63.4% to −51.0%.

Daily composite fair value vs ETH close

$1,939$3,403$5,9742026-02-282026-03-31

Composite fair value (purple) and ETH close (grey), 2026-02-28 – 2026-03-31.

How this page is made

Composite = simple average of the models that have a stored value that day (12 models; the same rule as the 01.3 fair value band chart). Band edges = composite × 0.5 / 0.75 / 1.0 / 1.25 / 1.5 / 2.0. Past values are recomputed from the stored daily data with the current model formulas and constants, so they can differ from what the live page showed on that day. Days without data are left out, never filled. Built 2026-10-14 23:19 UTC.

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