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ADA’s Price Doubled within 3 Months After This Index Reached This Level: Santiment

Sat, 10/22/2022 - 11:01
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Yuri Molchan
Cardano’s ADA shows a sign of being undervalued, according to data from Santiment
ADA’s Price Doubled within 3 Months After This Index Reached This Level: Santiment
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Santiment analytics team has tweeted that at the moment ADA has hit the lowest relative position in relation to the realized value of the token since early 2019. This means, the price may double now, since ADA seems to be undervalued.

MVRV Z-Score reaches a significant level

The tweet stresses that this is “a sign of undervaluation based on average trader loss”. Now, ADA’s MVRV Z-Score has reached -1.35 for the first time in 45 months, that is, since January 2019.

Last time this level was reached, the price of the coins surged 2x during the three months that followed.

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Community remains bullish on ADA

Two days ago, Santiment tweeted that the crypto community remains bullish on several coins, including ADA, XRP, Bitcoin and BNB.

To measure this social sentiment, Santiment team analyzed manifold posts on Twitter and other social media platforms. Therefore, these metrics for ADA and XRP remain bullish despite the recent bearish reversals in the prices of these coins.

At the time of this writing, Cardano’s ADA is changing hands at $0.3493, showing a rise by 4.22 percent in the past 24 hours.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at