Analysts advised on which cryptocurrencies to invest in August
Employees of the analytical company Santiment named cryptocurrencies that are worth buying in August 2024.
Specialists have compiled a list of 10 digital assets, calculating the MVRV Z-Score index, meaning the difference between the formal and realized level of capitalization of a digital asset. The higher the index, the more overvalued the coin, and, conversely, the lower it is, the more the cryptocurrency is undervalued.
The list of the most profitable for ordinary traders and therefore overvalued virtual currencies includes:
--- Toncoin (TON);
--- Bitcoin (BTC);
---Ethereum (ETH);
---Dogecoin (DOGE).
And the list of the least profitable and therefore low-risk included:
---Uniswap (UNI);
---Shiba Inu (SHIB);
---Polygon (MATIC);
---Chainlink (LINK);
---Cardano (ADA);
---XRP (XRP).
The logic of Santiment employees is that buying undervalued cryptocurrencies will bring more profit than buying overvalued assets, because sooner or later the rate of outsiders will start to pump, and the price of favorites, on the contrary, will decrease or increase slightly. Accordingly, Santiment experts advise investing in the least profitable virtual currencies.