The leading cryptocurrency, Bitcoin, which spent the weekend generally above $ 27,000, started the day with a decline.
Hanging below $27,000, BTC is trading at $26,797 at the time of writing.
The decline in Bitcoin was also reflected in altcoins, and there was a pullback in altcoins in general.
While BTC and altcoins are experiencing pullbacks, popular crypto money platform Santiment said in its share that some altcoins are potentially below their value.
In this context, Stating that these altcoins have a market capitalization above the realized capitalization, Santiment stated that this indicates the growth potential.
Combining short-term, medium-term and long-term capitalizations, Santiment argued that these altcoins could be ready for a significant recovery in the coming summer.
He said these altcoins are Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), Shiba Inu (SHIB), UniSwap (UNI), and Chainlink (LINK).
“A few of the biggest altcoins show undervaluation as they combine short-, medium- and long-term capitalizations.
These altcoins appear as XRP, ADA, DOGE, MATIC, SHIB, UNI and Link.
The market values of these altcoins need to be above the realized values. This indicates that these altcoins may rally this summer.”
📊 Several of the largest #altcoins show undervaluation when combining short, mid, and long term realized capitalizations. Market caps are above realized caps for $XRP, $ADA, $DOGE, $MATIC, $SHIB, $UNI, & $LINK, hinting many may make up ground this summer. https://t.co/3wLIFZ8B90 pic.twitter.com/WMzy4imOO9
— Santiment (@santimentfeed) June 4, 2023
*Not investment advice.
