Santiment analyzes where the price of UNI, SOL and AAVE is going2 min read
An executive at cryptocurrency analyst firm Santiment is analyzing some altcoins that ignored BTC’s bearish and appreciated earlier this week.
In a new YouTube video, Santiment Marketing Director Brian Quinlivan, said that the 30-day market value to realized value (MVRV) metric indicates that it is a great time to buy.
According to the analyst, decentralized exchange Uniswap (UNI) token falls into a “zone of good opportunity”, now in terms of its 30-day MVRV.
“We typically look for anything below 15% as a good opportunity zone. And we’re definitely way below 15% there… We’re right in the opportunity zone still for Uniswap.”
Another cryptocurrency analyzed by the expert is Aave, which he says is being hoarded by ETH whales.
According to the analyst, it is “a good sign” that the whales are buying Aave and this may indicate a rise. Furthermore, he added that AAVE is displaying some more optimistic metrics than Uniswap.
Quinlivan further noted that investors appear to be selling Decentraland (MANA) on Binance and FTX.
However, while this may sound bad, he points out that this is an optimistic development for the crypto asset.
“It’s very cyclical and right now this is one of the most optimistic metrics for MANA. That’s because there is a huge amount of short selling that can show that MANA has reached its bottom and is ready to go up”, he reports.
However, Quinlivan pondered that Decentraland’s MVRV and on-chain metrics look bearish.
Finally, the last cryptocurrency on the analyst’s list is Solana (SOL). As Quinlivan pointed out, his optimism stems from increased project development activity as measured by daily submissions to GitHub.
“Daily submissions on GitHub are about just over 500 a day now, after… a year ago it was at 190. So that’s a very good sign. It’s an indication that Solana’s team still believes in improving the product, innovating whenever possible. And they believe they have long-term sustainability. This is a really great thing to keep in mind when it comes to any asset.”