Analytics Firm Names Two ‘Still Undervalued’ Crypto Assets, Warns One Explosive Altcoin Facing High Risk of Pullback

Analytics Firm Names Two ‘Still Undervalued’ Crypto Assets, Warns One Explosive Altcoin Facing High Risk of Pullback


Crypto analytics firm Santiment warns that the native token of the Bored Ape Yacht Club non-fungible token (NFT) ecosystem, ApeCoin (APE), stands a high chance of retracing after a modest rally.

Santiment says that ApeCoin’s market-value-to-realized-value (MVRV) ratio sits at 15.981%, suggesting that it is relatively overvalued.

According to the crypto analytics platform, the MVRV ratio of decentralized virtual worlds Decentraland (MANA) and The Sandbox (SAND) is -59.77% and -33.31%, respectively, suggesting that they are “still undervalued.”

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“While altcoins are resetting a bit after the hot start in 2023, you can reallocate your portfolio based on which assets still show traders are under water. While APE’s 1-year MVRV is at +16%, MANA (-60%) and SAND (-33%) may be more appealing for now.”

Source: Santiment

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