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Three cryptocurrencies are in the ''opportunity zone'', according with Santiment

By Crypto4you23 | Cryptoanswers22 | 4 Jul 2023


Introduction:

 

The cryptocurrency analysis platform Santiment listed in a recent article digital assets that are in the "opportunity zone" and deserve the attention of investors.

According to the platform, the "pump" (rise) of the crypto assets happens "out of nowhere," with cryptocurrencies that are somewhat overlooked.

Santiment cited the case of Bitcoin Cash (BCH). In recent days, the price of the "copy" of Bitcoin has risen over 100% in an unexpected move.

For anyone familiar with the concept of 'buying low, selling high,' it's likely obvious that buying BCH after the rally is statistically riskier than, for a random example, buying Ethereum Name Service (ENS) that dropped 20% last month," the company said.

In other words, it's more likely to profit by purchasing an asset with accumulated losses rather than one that is already experiencing a rise.

In this regard, Santiment conducted an analysis using its MVRV model to identify cryptocurrencies with the worst performances that are likely in the opportunity zone.

 

Dodo(DODO)

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Regarding DODO (DODO), the 455th largest cryptocurrency in the market according to CoinGecko, Santiment observed that Dodo's 30-day MVRV is at -18%.

This indicates that the token may be a good buying opportunity.

"MVRVs of -20% or below are generally good signals of an imminent bounce (or at least eventually imminent).

Meanwhile, its 365-day MVRV is at -35%, which historically falls within the range of an asset showing a buying opportunity," the company stated.

According to CoinGecko, at the time of writing this article, DODO is priced at $0.094 and has experienced a decline of approximately 5% in the last week.

 

League of Kingdoms (LOKA)

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In second place, Santiment listed the LOKA token from the League of Kingdoms platform.

According to the company, there seem to be indeed some "heavy losses" for LOKA.

This is because its 30-day MVRV recently jumped and is at -9%.

"It's not as appealing as some other assets.

But the -50% 365-day MVRV indicates that long-term traders have been absolutely defeated by LOKA's weak performance last year," they said.

LOKA, the 620th largest asset by market value, is currently trading at $0.22.

The token has experienced a decline of over 7% in the last week.

 

Reef(REEF):

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Finally, another cryptocurrency in the opportunity zone, according to Santiment, is REEF.

The platform highlighted that REEF's 30-day MVRV is currently in the opportunity zone at -23%.

Additionally, its 365-day MVRV is at -38%.

"With a lot of pain being felt by traders and hodlers of the asset, it may be worth investigating," they said.

At the time of writing, the REEF token is priced at $0.0017, having appreciated approximately 2% in the last week, according to CoinGecko

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