Santiment, a well-known cryptocurrency analytics company, has identified a group of large-cap alternative coins that could experience short-term surges following a recent market correction.
Using the Market Value to Realized Value (MVRV) metric, Santiment has observed that seven altcoins have entered negative territory. MVRV compares a digital asset’s market capitalization to its realized capitalization, indicating whether a coin is oversold or undervalued when the value drops below zero.
According to Santiment, a lower 30-day MVRV suggests less risk for short-term investments. Among the notable large-cap cryptocurrencies, Dogecoin (DOGE) stands out with an MVRV value of -19.7%, followed by Uniswap (UNI) and Litecoin (LTC) at -16.3% and -15% respectively.
Ethereum (ETH) holds the fourth position with an MVRV score of -13.2%, while Chainlink (LINK) and XRP follow closely with values of -11.1% and -10.1% respectively. Cardano (ADA) rounds out the list with an MVRV value of -9.9%.
Toncoin (TON) is the only exception among large-cap altcoins, boasting a positive MVRV score of +4.0%. Bitcoin (BTC) has an MVRV score of -9.64%.
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