Bitcoin and Ethereum remain slightly bullish while Dogecoin and Cardano show strong upside potential -
According to a recent post from leading cryptocurrency analysis firm Santiment, 30-day MVRV ratios for prominent cryptocurrencies indicate a period of decline in value. The media tweet highlights these rates, indicating potential upward trends in the near future. MVRV is an important metric that helps measure market sentiment and profitability by comparing the market value of an asset with its realized value.
The importance of MVRV rates in cryptanalysis
The 30-day MVRV ratio is very important for investors because it clearly shows whether a cryptocurrency is overvalued or undervalued. By analyzing this ratio, investors can make more informed decisions and benefit from market corrections.
The MVRV ratio is calculated by dividing the current market value by the realized value. The realized value is the total value of all currencies based on the latest exchange rate. This metric sheds light on market trends and investor sentiment and provides a valuable tool for market analysis.
Major cryptocurrencies featured by Santiment
Santiment's tweet details the 30-day MVRV rates for six major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple, Dogecoin (DOGE), Toncoin (TON), and Cardano (ADA). Here's a summary of what these symbols mean
