According to the analytical platform Santiment, now is the time to add altcoins to the portfolio. In a March 9 tweet, the company notedthat most of the coins are again in the buy zone – and at levels that have not been observed since the beginning of January.
If you have been waiting the time to buy #altcoins when there is blood in the streets, our MVRV model indicates that this time has arrived. Prices can of course still fall further, but this is the most #crypto assets have been in opportunity zones since early January. pic.twitter.com/LoM4ooiGUU
— Santiment (@santimentfeed) March 9, 2023
To determine which altcoins lost the most in price, Santiment analysts used the Market Cap versus Realized Cap (MVRV) indicator. It is designed to analyze long-term trends and cycles and is used as a tool to detect major market phases.
Altcoins suffer big losses
Most altcoins are still trading 80% below their 2021 all-time highs. However, research conducted by Santiment has revealed some coins that are worth looking at in the long term. Analysts included 0x, DYDX, Yearn Finance (YFI) and other altcoins among such assets.
If you look at the current prices of large-cap altcoins, you can see a few coins that have sunk much more than others. Among them are Ripple (XRP) – 88%, Cardano (ADA) – 89%, Dogecoin (DOGE) – 90%, Solana (SOL) – 93% and Polkadot (DOT) – 90%. By comparison, Bitcoin (BTC) and Ethereum (ETH) are down 68% from their all-time highs, while the total crypto market capitalization is down 66%.
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