Dogecoin, XRP, ADA significantly down from 2024 highs
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Amid the current market uncertainty, a metric that has recently drawn attention is the 30-day market value to realized value ratio. According to on-chain analytics firm Santiment, this metric might serve as an indicator for assessing the risk and timing of investments, especially in the short term.The MVRV ratio is a comparison of the market capitalization of a cryptocurrency against its realized cap. The 30-day MVRV specifically measures the average profit or loss of investors who purchased the asset within the past month.
A lower 30-day MVRV suggests that the crypto asset is undervalued and may indicate a dip buying opportunity with less risk.Dogecoin, XRP and ADA are significantly down from their 2024 highs with the recent selling in the market exacerbating losses. However,📊 The lower a coin's 30-day MVRV is, the less risk there is in opening or adding on to your position for a shorter term timeframe.
While the MVRV ratio remains a useful tool, it might be important to consider it alongside other market factors and sentiment.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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