Santiment, a prominent cryptocurrency and market intelligence platform, has identified Shiba Inu (SHIB), Cardano (ADA) and XRP among its top altcoin picks. Utilizing advanced technical indicators, the market intelligence platform has pinpointed its altcoin picks as having the potential for both significant giants and substantial losses for investors.
Santiment Unveils Top Altcoin Picks
In an X (formerly Twitter) post on Friday, July 26, the crypto market experienced a strong rebound, potentially indicating a shift from bearish trends to more bullish ones. Taking note of Friday’s bullish uptick, Santiment meticulously outlined a list of crypto assets based on their historical performance and potential for a bullish divergence.
Related Reading: Will BlackRock Move To Altcoins Like XRP And Solana For Spot ETFs Next?
The market intelligence platform recommended that investors closely monitor these assets, particularly their respective average trading returns. According to its recent analysis, if investors believe that the crypto market is on the verge of a substantial bullish surge, historical trends suggest that investing in assets where traders have previously suffered the most could yield the highest results during a market recovery.
In light of this, Santiment has unveiled ten notable altcoins including Shiba Inu, Cardano and XRP, and others, that could present significant profits opportunities or notable risks for investors. The market intelligence platform also provided insights into the Market Value to Realized Value (MVRV) Z-Scores of these crypto assets, highlighting the importance of this data for investors to make informed investment decisions.
The MVRV Z-Score is a unique market metric used to assess the valuation of an asset compared to its historical average trading returns. A high MVRV Z-Score typically suggests that a crypto asset is significantly overvalued while assets tagged with a low MVRV is considered undervalued.
In its top 10 altcoin picks, Santiment identified assets that exhibit the best and worst MVRV Z-Score, offering investors a potential roadmap to avoid losses and gain high returns. According to the market intelligence platform, high-pain assets with lower investment risks include Uniswap (UNI), Shiba Inu, Cardano, XRP, Polygon (MATIC), and Chainlink (LINK).
On the other hand, high gain assets with significantly larger investment risk include popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Toncoin (TON).
Altcoin Market Poised For Major Break Out
While Santiment unveils a compiled list of altcoins set to make the most gains, crypto analyst, Michael van de Poppe sheds light on the current state of the altcoin market and its significant growth potential. In an X post, Poppe disclosed the latest trends in the altcoin market, noting that over the past week, the total market capitalization of altcoins declined by a staggering 4%.
Despite the market’s rough week, Poppe believes that its recent bearish correction has concluded. He sees the market correction as a consolidation or build up phase, setting the stage for a significant upward movement. The crypto analyst has also predicted a major bullish breakout in the altcoin market, potentially pushing its market capitalization above $800 billion.
Featured image created with Dall.E, chart from Tradingview.com