Three Under-the-Radar Ethereum-Based Cryptos Among Altcoins Currently in the ‘Opportunity Zone’: Santiment

Crypto analytics platform Santiment says that one key metric is flashing buy signals for several altcoins.

In a new update, the market intelligence firm says that the Market Value to Realized Value (MVRV) ratio is giving investors interested in altcoins the chance to purchase them at an opportune time.

“If you have been awaiting the time to buy altcoins when there is blood in the streets, our MVRV model indicates that this time has arrived. Prices can of course still fall further, but this is the most crypto assets [that] have been in opportunity zones since early January.”

An asset’s MVRV is the ratio between its prevailing market price and the average buying price.

Santiment’s director of marketing, Brian Quinlivan, further explores the analytics firm’s bullish thesis for altcoins in a new video.

Quinlivan says that decentralized exchanges dYdX (DYDX) and Hashflow (HFT), as well as the privacy-focused blockchain for social media Mask Network (MASK), are some of the altcoins that are in the “opportunity zone.”

“Our MVRV model that shows the combined short, medium and long-term average trading returns for various assets… You can see that just about every one of them are in the opportunity zone now because short, mid and long-term traders are all down money in these assets.

When that happens we have an algorithm that shows how close it is to this [opportunity zone]… We can see a few different assets in there. I think I see dYdX being one, Hashflow being one, Mask [Network] being one, just to name a few.”

According to Quinlivan, adding a position or entering a new position when a crypto asset is in the opportunity zone is “justified.”

”Anything here above the just zero line [the start of the opportunity zone] is in a better-than-average spot where an addition to your position could be justified. Or opening a new position could be justified.”

MASK is trading for $2.88, HFT for $0.634 and DYDX for $2.06 at time of writing.

I

Check Latest News Headlines

 

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 loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Three Under-the-Radar Ethereum-Based Cryptos Among Altcoins Currently in the ‘Opportunity Zone’: Santiment appeared first on The Daily Hodl.