Markets
Santiment Outlines Bullish Altcoins in Booming Crypto Market: Here Are the Analyst’s Picks
Cryptocurrency analytics firm Santiment has outlined potentially bullish altcoins as digital asset markets rallied on Friday.
Santiment analyzes assets based on the Market Value to Realized Value (MVRV) ratio Z-score, which aims to measure whether they are undervalued or overvalued.
An asset with a low MVRV Z-Score is considered undervalued, while those with a high MVRV Z-Score are considered overvalued.
Meanwhile, realized value records the price of each asset at the time of its last change and aims to assess how many holders are in profit or loss.
Explains Holiness,
“If you believe markets are about to go up, history shows that buying assets where traders have experienced the most trouble is more likely to generate high returns for you.”
Santiment notes that high-risk assets with low MVRV Z-scores include the decentralized exchange (DEX) Uniswap (UNI), the Shiba Inu memecoin (SHIBAS), the Polygon blockchain scalability solution (MATIC), the decentralized oracle network Chainlink (CONNECTION), the smart contract platform Cardano (ADA) and altcoin payments Exchange rate risk.
Source: Santiment/X
High-yielding assets that are currently riskier buys include the layer 1 blockchain Toncoin (TONNE), Bitcoin (BTC), Ethereum (ETH) and the main meme asset Dogecoin (DOGE).
Santiment does not have MVRV data on Stellar (XLM), but the analysis company also Notes that competitor XRP’s social volume and sentiment have been negative, a “mildly bullish” signal for the asset.
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Disclaimer: The views expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any loss you may incur is your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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