Santiment Lists Altcoins That Now Present Good Buy Opportunities
According to crypto analytics firm Santiment, the latest crypto market correction has brought four altcoins 1inch (1INCH), Loopring (LRC), Ren Protocol (REN) and The Sandbox (SAND) down to lucrative buy range.
“After a continued weekend slide, several altcoins have now reached into historical buy the dip territory, according to our MVRV Opportunity & Danger Zone Model. This indicates average trading returns are in the top 10% in terms of typical bottom areas.”
? After a continued weekend slide, several #altcoins have now reached into historical #buythedip territory, according to our MVRV Opportunity & Danger Zone Model. This indicates average trading returns are in the top 10% in terms of typical bottom areas. #1inch$LRC$REN$SANDpic.twitter.com/pnt69bGV6y
The market value to realized value (MVRV) is calculated by dividing Market Value by Realised Value. In Realised Value, the asset prices are taken at the time they last moved, instead of the current price like in Market Value. It indicates the average profit/loss for coins in circulation and is a useful metric for hunting crypto bargains.
Last month, Santiment announced updates to its existing MVRV model to provide more accurate and up-to-date data for traders.
“Due to popular demand, we have rebuffed our MVRV Opportunity & Divergence model to update every hour, as opposed to every day by using our new Intraday MVRV metrics.
This will help keep you up to speed with the latest data on how close your favorite assets are to their next opportunity (or danger) zones.”
At the time of writing, 1INCH is trading at $ 1.37, while LRC is exchanging hands at $0.76. REN is currently priced at $0.27, while SAND trades at $2.90. All four assets are down about 10% on the daily frame.
