Most Altcoins in ‘Historic Position’ to Rally As Traders Realize Heavy Losses Over the Past Month: Santiment

Analytics firm Santiment says the majority of altcoins look set to ignite rallies after a month-long crypto correction.

Santiment says that the ongoing marketwide pullback has driven many altcoin traders to unload their stacks and incur heavy losses.

“According to our model, the mid-term gains and losses by average wallets indicate heavy realized losses across most altcoins. Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over one-month, three-month and six-month cycles.”

The MVRV is an on-chain indicator used to assess whether a crypto asset is undervalued or overvalued.

With the MVRV hovering at prime opportunity zones across multiple time frames for most altcoins, the analytics firm says that

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