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Leading crypto analytics firm Santiment says four altcoins are showing signs of an imminent rally after being hit in the market.
According to Santiment, metaverse altcoins Decentraland (MANA) and The Sandbox (SAND) along with Chiliz (CHZ) and Ren (REN) are opportunity zoneAfter the crypto market suffered heavy losses.
Santiment says the Market Value to Realized Value (MVRV) metric bodes well for the four crypto assets. MVRV is the ratio of an asset’s market capitalization to its realized market capitalization and is used to detect overbought or oversold conditions.
Cryptocurrency market capitalization plunged over the weekend into Monday. Bitcoin and Ethereum have held up somewhat, but altcoins have been particularly hard hit. is currently at a historical point where bounces occur.
As of this writing, Decentraland has fallen from its December high of $0.42 to $0.31. Sandbox is trading at $0.44, down from its monthly peak of $0.63.
Chiliz is trading at $0.11 at the time of writing, down 35% from its monthly high, while REN is trading at $0.068, down 32% over the month.
analysis company Usage This time, a 5-year MVRV analysis of Bitcoin (BTC). The average investor over the past five years is now down a historic 34%, according to Santiment.
“The average return for active 5-year traders is -34%. The return fell below 0% for the first time on June 9th.”
Bitcoin is trading at $16,814 at the time of writing.
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