Ethereum (ETH) and two leading altcoins are presenting traders with unique opportunities, according to blockchain researchers.
In a new post to X, Santiment tells its over 200,000 followers that ETH, Chainlink (LINK) and Cardano (ADA) are showing promising signs on the Market Value to Realized Value (MVRV) metric.
[adinserter block="1"]“The vast majority of cryptocurrencies are now flashing extreme pain for average trading returns. Wallets active in the past 30 days have an average performance of:
Cardano ADA: -19.7% (Extreme Buy Zone)
Chainlink LINK: -16.8% (Extreme Buy Zone)
Ethereum ETH: -15.4% (Extreme Buy Zone)
Bitcoin BTC: -11.5% (Good Buy Zone)
XRP Ledger XRP: -10.2% (Good Buy Zone)
Use MVRV to find out what a ‘buy low’ zone actually is, as opposed to simply looking at trendlines and support (though both are still viable). In a zero sum game, buy assets when average trade returns of your peers are in extreme negatives. The lower MVRV’s go, the higher the probability is of a rapid recovery.”
According to Santiment, Bitcoin (BTC) is also giving altcoin traders a reason to believe that the bottom may be in soon.
“Though not a guaranteed crypto bottom signal, probabilities of a market reversal greatly increases when social dominance for Bitcoin surges. During Friday’s dip below $95,000, discussion rates hit a 4-month high, signaling severe retail panic & FUD.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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