Altcoins
Santiment Outlines Bullish Altcoins in a Booming Crypto Market – Here Are the Analytics Firm’s Picks
Crypto analytics firm Santiment outlined potentially bullish altcoins as digital asset markets surged on Friday.
Santiment analyzes assets based on their Market Value to Realized Value (MVRV) Z-score, which aims to measure whether they are undervalued or overvalued.
An asset marked 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 its last change and aims to assess how many holders are profiting or losing.
Explain Santiment,
“If you think markets are about to surge, history tells us that investing in assets where traders have had the most trouble is more likely to earn you high returns.”
Santiment notes that high-pain assets with low MVRV Z-scores include decentralized exchange (DEX) Uniswap (United), the Shiba Inu memecoin (SHIB), the Polygon blockchain scaling solution (MATICS), the decentralized oracle network Chainlink (LINK), the smart contract platform Cardano (ADA) and altcoin payments XRP.
Source: Santiment/X
High-yielding assets that are currently riskier buys include layer-1 blockchain Toncoin (TONNE), Bitcoin (Bitcoin), Ethereum (ETH) and the best meme asset Dogecoin (DOGE).
Santiment does not have MVRV data on Stellar (XLM), but the analytics company also Remarks that social volume and sentiment for XRP’s competitor have been negative, a “slightly bullish” sign for the asset.
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