BCGAME - Free 5BTC Daily Bonus!Recent research from analytics platform Santiment provides an in-depth look at the current cryptocurrency landscape, identifying six altcoins that could have significant upside potential for 2024. Using the market value to realized value (MVRV) Z-score valuation method ), the analysis highlights how these cryptocurrencies are positioned in the current market.
Realized value is a metric that considers the price of each asset at the time of its last movement. This approach allows you to assess the current situation of holders, distinguishing between those in profit and those facing losses. According to Santiment, “assets that cause traders the most pain have historically offered the greatest potential returns when markets recover.”
In this analysis, Santiment identifies promising altcoins such as Uniswap (UNI), Shiba Inu (SHIB), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP have low MVRV Z-scores, suggesting they are currently undervalued. These cryptocurrencies are highlighted as promising for 2024, indicating a buying opportunity for investors looking for assets with the potential for appreciation as the market recovers.
📊 The 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 emerge, history says that buying into assets that traders have experienced the most pain in… pic.twitter.com/ReNHwEWb84
- Santiment (@santimentfeed) July 26, 2024
Using the MVRV Z-score is essential to understanding the balance between nominal value and the value that holders attribute to their cryptocurrencies. A low MVRV Z-score is often an indication that the asset is trading at a lower price than what holders are willing to pay, based on the last significant movement in the asset's price.
