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.”
Generated Image: Midjourney