Top 6 Altcoins That Could Take Off, According to Analyst Firm
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On Friday, as digital asset markets experienced an uptick, crypto analytics firm Santiment highlighted altcoins with potential bullish prospects.
The analytics platform evaluates assets using the market value-to-realized-value (MVRV) Z-score, which helps determine if assets are undervalued or overvalued. A low MVRV Z-score suggests an asset is undervalued, whereas a high score indicates it is overvalued.
📊 As crypto markets are showing serious bounce action on a bullish Friday, keep in mind where various assets stand in terms of average trading returns.
If you believe markets are about to surge, history says that buying into assets that traders have experienced the most pain in… pic.twitter.com/ReNHwEWb84
— Santiment (@santimentfeed) July 26, 2024
The realized value measures the price of each asset based on its last movement, aiming to understand how many holders are in profit or loss. Santiment explains that assets causing the most pain to traders historically offer greater potential returns when markets rebound.
According to Santiment, currently undervalued assets with low MVRV Z-scores include Uniswap (UNI), Shiba Inu (SHIB), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP.
On the flip side, assets deemed riskier due to high potential gains include Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
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