⚡ Analysts at Santiment have named the cryptocurrencies worth buying in August 2024.
⚡ The experts compiled a list of 10 digital assets by calculating the MVRV Z-Score, which represents the difference between the nominal and realized market capitalization of a digital asset. The higher the index, the more overvalued the coin is, and conversely, the lower the index, the more undervalued the cryptocurrency is.
⚡ Among the most profitable (and therefore overvalued) cryptocurrencies for retail traders are Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Meanwhile, the least profitable (and thus lower-risk) options include Uniswap (UNI), Shiba Inu (SHIB), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and XRP (XRP).
⚡ Santiment’s logic is that purchasing undervalued cryptocurrencies will yield higher profits than buying overvalued assets. Experts recommend investing in the least profitable virtual currencies.