Cryptocurrency analysis firm Santiment says that altcoins like The Sandbox (SAND), 1inch (1INCH), Loopring (LRC) are in the buying range.
Santiment SAND draws attention to 1INCH, LRC and REN
Offering new analysis with various metrics for cryptocurrencies, Santiment noted in a recent post that the tokens of The Sandbox, 1inch, Loopring and Ren Protocol are in the “buy” zone. While conveying this analysis, Santiment informed that these altcoins have descended to the bottom areas, which are the historical buying zone, according to the MVRV opportunity and danger models, together with the decreases experienced in the last week. The company said this shows that average trade returns are in the top 10 for typical bottom areas.
The market value/realized value (MVRV) metric is the ratio of an asset’s market value to its actual value. By comparing the two valuation methods, the MVRV ratio can tell us to get an idea of whether the price is fair, which means it’s useful to take the highs and lows of the market. This metric also shows the average profit and loss status of coins in circulation, and it is a metric that is mostly used by those who want to buy cryptocurrencies on the decline.
Markets in red
Cryptocurrencies, which Santiment gives a buy signal, are currently trading on the red board. As we reported earlier, the latest increased volatility in the cryptocurrency market has resulted in liquidations exceeding $400 million on a 24-hour scale. BTC is trading at just over $36,000 this time around – this is the new lowest price point since Feb. BTC has lost about $3,000, and this has also affected altcoins. At the time of writing, looking at the price situation of the coins that Santiment pointed out, SAND fell 11.45 percent to $2.97, 1INCH fell 11.48 percent to $1.37, Loopring (LRC) dropped 11.17 percent to $0.76, and REN. It is trading at $0.27, down 11 percent.