Skip to content

SHIB, DOGE, XRP among crypto’s top undervalued assets, data shows

SHIB, DOGE, XRP among crypto’s top undervalued assets, data shows

With the cryptocurrency market still licking its wounds after the 2022 bloodbath, most of its largest assets by market capitalization remain undervalued in terms of comparison between their market and realized value or the MVRV Z-Score, often used in predicting prices at the extremes of market conditions.

Specifically, Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), Shiba Inu (SHIB), Uniswap (UNI), and Chainlink (LINK) are all in the undervalued category, as per the data shared by the crypto analytics platform Santiment on January 20.

Lower or higher risk?

According to the platform’s analysis of the top assets’ average returns, the above cryptocurrencies are deemed lower-risk investments, recording a decline in average addresses in the long term, which indicates that there is still “a lot of ‘meat on the bone’ to make up for 2022 losses.”

Average returns for crypto’s top assets. Source: Santiment

On the other hand, the MVRV Z-Score, which identifies overvalued and undervalued digital assets based on short and long-term returns, has also indicated that Binance Coin (BNB) is among the few overvalued top caps, indicating a higher-risk investment.

Interestingly, BNB is also the only one among the listed cryptos that is recording a price decline on the day, dropping -0.34% (currently trading at $289.30), as opposed to Bitcoin, which is up +1.46%, Ethereum +1.71%, XRP +1.T64%, Cardano +1.84%, Dogecoin +0.42%, Polygon +2.92%, Shiba Inu +1.46%, Uniswap +90%, and Chainlink +1.65%.

Top 10 cryptocurrencies by market cap. Source: CoinMarketCap

Meanwhile, the global crypto market is up 1.13% over the past 24 hours, consolidating after its brief bullish momentum was cut short by the announcement of crypto lender Genesis filing for bankruptcy, which materialized on January 19.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts