Crypto analytics firm Santiment is saying that some big-name altcoins could be poised for a short-term rally after a recent dip.
What’s the Deal with MVRV?
Santiment uses a metric called Market Value to Realized Value (MVRV) to figure out if a coin is undervalued. Think of it like a sale: a lower MVRV means the coin is currently on sale and might be a good buy.
Top Cryptos with a “Buy” Signal
Here are the top 7 altcoins with the lowest MVRV scores, suggesting they might be a good short-term investment:
- Dogecoin (DOGE): The memecoin has the lowest MVRV score at -19.7%, making it the most “oversold” on the list.
- Uniswap (UNI): The decentralized exchange has an MVRV of -16.3%.
- Litecoin (LTC): The peer-to-peer payments network sits at -15%.
- Ethereum (ETH): The leading smart contract platform has an MVRV of -13.2%.
- Chainlink (LINK):
The decentralized oracle network comes in at -11.1%.
- XRP: The digital asset has an MVRV of -10.1%.
- Cardano (ADA): The Ethereum rival has an MVRV of -9.9%.
One Exception and Bitcoin’s Status
The only large-cap altcoin not showing an oversold signal is Toncoin (TON), which has a positive MVRV score. Bitcoin (BTC), the king of crypto, also has a negative MVRV score of -9.64%.
Remember: This is just one indicator, and investing in crypto is risky. Always do your own research before making any investment decisions. /p>
