In the latest Youtube video, Santiment Network delved into the intricate world of cryptocurrency, highlighting six key metrics that offer insights into potential market leaders among the top 200 to 300 crypto assets. Santiment, a leading on-chain social and development activity cryptocurrency platform, provided the data for the analysis, encompassing various aspects to aid informed decision-making for investors.
The Relative Strength Index (RSI) took center stage in the analysis, serving as an indicator of an asset’s overvaluation or undervaluation. The host emphasized the significance of combining metrics to garner more accurate results. SushiSwap emerged as a noteworthy candidate due to a recent low in RSI, signaling a potential upswing in prices.
Litecoin, the second oldest cryptocurrency after Bitcoin, caught Brian’s attention for its favorable long-term prospects. The 365-day Market Value to Realized Value (MVRV) ratio demonstrated a negative trend, suggesting a likelihood of future price increases and making Litecoin an intriguing option for investors.
Litecoin (LTC) is currently priced at $70.32, reflecting a 1.81% increase in the last 24 hours. With a market cap of $5,204,144,502, LTC ranks 18th in the cryptocurrency market. The 24-hour trading volume is $441,347,401, constituting 8.48% of the market cap. The circulating supply stands at 74,002,489 LTC.
Weighted sentiment, once affected by changes in Twitter’s API, regained significance in the analysis. The video highlighted Quant as a cryptocurrency with a notably negative sentiment, potentially paving the way for a bullish surge in the near future.
Cardano, a top-10 asset, was examined through the lens of its total holders. A recent drop in the number of wallets holding Cardano, especially those with smaller balances, hinted at a positive sign for the asset. Brian suggested that such drops could lead to a surge in price, as observed in previous instances.
Cardano (ADA) is currently priced at $0.5998, reflecting a 0.57% increase in the last 24 hours. ADA is positioned at number 8 in the cryptocurrency market with a market cap of $21,201,040,754. The 24-hour trading volume is $704,547,106, constituting 3.32% of the market cap. The circulating supply stands at 35,347,186,984 ADA, which accounts for 78.55% of the total supply of 36,454,694,074 ADA. The maximum supply is capped at 45,000,000,000 ADA.
Moving into the realm of meme coins, Pepe faced scrutiny. Despite a recent price decline, the host pointed out a positive trend in the accumulation of Pepe by the top non-exchange addresses. This accumulation by major holders hinted at a potential turning point for Pepe, showcasing the complexity of meme coin dynamics.
Pepe (PEPE) is currently valued at $0.000001253, reflecting a 4.03% decrease in the last 24 hours. With a market cap of $523.27 million, Pepe holds the 105th position in the cryptocurrency market. The 24-hour trading volume is $81.58 million, constituting 15.59% of the market cap. The circulating supply is 417.48 trillion PEPE, accounting for 99.24% of the total supply.
Further, the highlighted Ape Coin, underscoring the importance of monitoring the top 150 addresses. Accumulation by these major holders over the past three months hinted at a positive trajectory for Ape Coin, reinforcing the idea that even outside the top 100 market cap, addresses can influence market sentiment.
ApeCoin (APE) is currently priced at $1.62, indicating a 1.60% decrease in the last 24 hours. APE holds the 91st position in the cryptocurrency market with a market cap of $597,987,420. The 24-hour trading volume is $50,322,687, constituting 8.42% of the market cap. The circulating supply is 368,593,750 APE, representing 36.86% of the total supply.
Santiment assured viewers that these analyses were not investment advice but rather an exploration of metrics providing valuable insights for crypto enthusiasts. As the crypto landscape evolves, the host promised more in-depth analyses in future videos, encouraging viewers to express their preferences for specific metrics in the comments section. The intricate web of cryptocurrency dynamics continues to unfold, offering both challenges and opportunities for savvy investors.
