Attention crypto investors! Large-cap coins like Cardano, Dogecoin, and XRP are on the verge of explosive gains. Based on 30-day Market Value to Realized Value [MVRV], Santiment has compiled a list of leading crypto assets flashing strong signals of a short-term bounce.
The first on the list is Cardano’s ADA whose price surge on the daily index shows a very bullish signal with a -12.6% MVRV. This substantial dip could indicate a major price surge is imminent. Last week, ADA was among the top trending coins as it prepares for the highly-awaited Chang hard fork. The smart contract platform has recently launched Node 9.0. a key upgrade that will usher the network into the Age of Voltaire.
Apart from that Cardano’s smart contract-enabled NFTs have gained massive traction. Compared to traditional NFTs, these classes of digital collectibles offer more dynamic functionalities, enabling more complex and interactive virtual assets. This innovation positions Cardano as a formidable competitor to Ethereum in the burgeoning NFT market, which has seen explosive growth over the past year.
Overall, Cardano’s strong fundamentals and growing ecosystem make it a crypto to watch closely. Besides ADA, Dogecoin’s -16.7% MVRV is signaling extremely bullish signals. This massive dip could mean a significant rebound is on the horizon. Dogecoin’s bullish signals have a history of defying expectations, and this might be another one of those times.
Cardano Outshines Bitcoin and Ethereum in Bullish Signals
Other large-cap altcoins such as XRP whose -3.5% MVRV indicates a mild bearish sentiment. But that could quickly turn around, especially with ongoing legal battles potentially reaching favorable conclusions. XRP holders might soon be in for a pleasant surprise.
On the other hand, Bitcoin price prediction shows a 30-day MVRV of -4.0%. While this isn’t a huge drop, it suggests that BTC might be gearing up for a mild bullish trend. Historically, such a dip has often preceded short-term bounces, making this a potentially great entry point.
Similarly, Ethereum market trends indicate a mild bullish signal with a -4.3% MVRV. With the Ethereum network’s constant evolution and DeFi’s growth, this might be a perfect time to consider adding ETH to the portfolio.