As digital asset markets saw an uptick on Friday, the crypto analytics firm Santiment highlighted potentially bullish altcoins.
Santiment evaluates assets using their market value-to-realized-value (MVRV) Z-score to determine if they are undervalued or overvalued.
An asset with a low MVRV Z-score is considered undervalued, while a high score indicates overvaluation.
Realized value tracks the price of each asset at its last movement to assess the number of holders in profit or loss.
According to Santiment,
“If you believe markets are about to surge, history suggests that investing in assets that have caused traders the most pain could lead to higher returns for you.”
Santiment identifies assets with low MVRV Z-scores and high pain levels, including Uniswap (UNI), Shiba Inu (SHIB), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP.
Assets with high potential gains but higher risk currently include Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
Although Santiment lacks MVRV data on Stellar (XLM), the firm also mentions that the negative social volume and sentiment for the XRP competitor could be a “mildly bullish” indicator.
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Image Source: Midjourney