MultiversX Identified as Highly Undervalued in Latest Crypto Report

With the cryptocurrency market currently stable, there are opportunities to find undervalued digital assets with strong profit potential.

An August 15, 2024, report by DBCrypto spotlighted a promising cryptocurrency through the Market Cap per Daily Active Address (MCDAA) metric. The analysis compared Avalanche (AVAX), Polkadot (DOT), MultiversX (EGLD), and Cardano (ADA), focusing on their market caps and active user counts.

Interesting comparison even though wallets is an imperfect metric 🤔

🔸 $AVAX:
Market Cap – $9.2 billion
Daily Active Addresses – 35k
= $262k MC per user

🔸 $DOT:
Market Cap – $6.5 billion
Daily Active Addresses – 4k
= $1.6mill MC per user

🔸 $EGLD:
Market Cap – $740 million… https://t.co/W76ZjgLxvb

— DBCrypto⚡️ (@DBCrypt0) August 15, 2024

Avalanche, with a $9.2 billion market cap and 35,000 daily active users, had an MCDAA of $262,000. Polkadot, with a $6.5 billion market cap and 4,000 active users, had an MCDAA of $1.6 million. MultiversX’s $740 million market cap and 20,000 active users resulted in a low MCDAA of $37,000. Cardano, valued at $15 billion with 25,000 active users, had an MCDAA of $600,000.

DBCrypto identified MultiversX as notably undervalued due to its low MCDAA, indicating room for growth if user engagement increases. This insight was based on initial research by a user named Solver, who emphasized the correlation between market cap and active users.

READ MORE:

German Federal Authority Issues a Warning to Crypto Users

While MCDAA is just one metric and should be considered alongside other factors, it offers a useful perspective on asset valuation. DBCrypto’s findings suggest MultiversX could see significant appreciation with rising user activity.

Alexander Stefanov