Cryptocurrency analysis company Santiment shed light on altcoins in the “overvalued” and “undervalued” region in its statement.
The company used MVRV Z-Score data when determining the altcoins in question. This data can classify altcoins into overvalued and undervalued zones based on traders’ average returns. According to this data, Santiment listed the altcoins in the overvalued and undervalued region among the world’s largest cryptocurrencies as follows:
- Overvalued: Toncoin (TON), Bitcobin (BTC), Ethereum (ETH)
- Low value: Uniswap (UNI), Shiba Inu (SHIB)
However, Santiment analysts also shared an analysis that they described as a bottom signal in the general cryptocurrency market. Here is Santiment’s current crypto market commentary:
“The level of bullish signals on X, Reddit, Telegram, 4Chan and BitcoinTalk has dropped significantly as investors lose confidence in the markets. Bearish rhetoric, on the other hand, decreased at a much slower rate. “We interpret this as crowd fear and indifference, a potential bottom signal.”
*This is not investment advice.
