Cryptocurrency market data platform Santiment evaluated the current data on the crypto market after the last drop. On-chain and market powered by Santiment to the data According to MVRV Divergence, several altcoins have entered opportunity territory. Here are the details.
Santiment said that some altcoins are typically in the “opportunity zone” where the price bottoms out.
It was reported that the ratio of Market Value to Realized Value (MVRV) was used in this analysis. MVRV is used to show the average profit or loss of all coins in circulation at the current price and is calculated by looking at the market value of the acquisition costs of the assets in a wallet.
“If you’ve been waiting for the right time to buy altcoins while there’s blood on the market, our MVRV model shows that the time has come. Of course, prices could drop further, but this is the most crypto asset has been in the opportunity zone since early January.”
Brian Quinlivan, Santiment’s director of marketing, elaborates on the analytics firm’s bullish thesis for altcoins in a new video. Quinlivan said decentralized exchanges dYdX (DYDX) and Hashflow (HFT), as well as Mask Network (MASK), are some of the altcoins that are in the “zone of opportunity”.
“You can see that almost every one of them is in the opportunity zone right now because short, medium and long-term traders have all lost money in these assets.
When that happens, we have an algorithm that shows how close we are to this opportunity zone… We might see a few different assets there. I think I see dYdX is one, Hashflow is one, Mask Network is one, just to name a few. “
According to Quinlivan, it is “reasonable” to add or enter a position when an altcoin asset is in the opportunity zone.
“Here is the zero line. [fırsat bölgesinin başlangıcı] Any asset on it is in a better-than-average spot where an addition to your position can be justified. Or it may be reasonable to open a new position.”
You can check the price movements here.