Prominent crypto analytics firm Santiment has released a compilation of major alternative cryptocurrencies poised for potential short-term rallies in the aftermath of last week’s market correction.

According to Santiment, the Market Value to Realized Value (MVRV) metric for seven altcoins has recently dipped into negative territory. MVRV measures a digital asset’s market capitalization against its realized capitalization, indicating whether the current market price reflects the value at which the coins were originally acquired. A negative MVRV suggests that a coin may be oversold or undervalued.

“The lower a coin’s 30-day MVRV, the lower the risk involved in initiating or increasing positions over a shorter time horizon,” states Santiment.

Leading the list of large-cap cryptocurrencies offering reduced risk is Dogecoin (DOGE), the popular memecoin, boasting an MVRV value of -19.7%. Following closely are Uniswap (UNI) and Litecoin (LTC), decentralized exchange and peer-to-peer payments network respectively, with MVRV scores of -16.3% and -15%.

Ethereum (ETH), a prominent smart contract platform, holds the fourth position with an MVRV of -13.2%. Chainlink (LINK), a decentralized oracle network, follows with an MVRV value of -11.1%, trailed by XRP at -10.1%.

Cardano (ADA), a competitor to Ethereum, rounds out the top seven with an MVRV value of -9.9%.

Santiment notes that the outlier among these large-cap altcoins is Toncoin (TON), a layer-1 protocol, which stands apart with a positive MVRV score of +4.0%.

Meanwhile, Bitcoin (BTC), the dominant cryptocurrency, displays an MVRV score of -9.64%.

For further updates, Santiment encourages followers to subscribe for email alerts and stay informed via their social media channels on X, Facebook, and Telegram.

Source: Santiment/X

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