According to U.Today, the recent MVRV ratio plunge of Chainlink (LINK) in the cryptocurrency field has attracted the attention of traders and analysts. Ali Martinez, a well-known crypto analyst, pointed out that the sharp drop in Chainlink's MVRV 30-day ratio has always been a good time to buy, with an average return rate of about 50%.

He noted that currently, LINK's MVRV 30-day ratio is -17.54%, which could be another opportunity to buy LINK. The MVRV (Market Value to Realized Value) ratio is a metric used to assess the market value of an asset relative to its realized value. When this ratio drops significantly, it usually indicates that the asset is undervalued and could be an attractive buying opportunity. However, despite Martinez's optimism about LINK's price, Chainlink's current market performance is not satisfactory.

The latest data shows that the price of LINK is $13.35, up 1.37% in the past 24 hours. However, in the past week, the price of the cryptocurrency has plummeted by 21.61%. In addition, Chainlink's 24-hour trading volume has also dropped significantly, decreasing by 39.30%. This decline in trading activity usually means a decrease in investor interest and liquidity, which may increase the volatility of the currency.

However, Martinez remains optimistic about LINK's price. While the overall market remains unpredictable and subject to a variety of factors, including regulatory developments and market sentiment, the significant drop in Chainlink's MVRV ratio may indeed provide a good time for investors to consider entering or expanding their positions in the cryptocurrency. However, investors and traders should conduct thorough research and consider their risk tolerance before making any investment decisions, especially in the highly volatile crypto markets.