In a recent tweet, cryptocurrency analysis firm Santiment said that several of the popular cryptocurrencies, such as the XRP coin linked to Ripple, Cardano (ADA), and Shiba Inu (SHIB), could be undervalued.
The company claims that these alternative coins have market capitalizations that are higher than their realised capitalizations, indicating growth potential.
This list of undervalued cryptocurrencies also includes DOGE, MATIC, UNI, and LINK. According to Santiment’s examination of realised capitalizations throughout the short, medium, and long periods, these cryptos may see growth over the next summer.
The success of these cryptocurrencies last week was uneven, with XRP experiencing a 7.4% weekly increase. Its market capitalization is $27,7 billion and its price is now $0.54. The excitement around a probable outcome in the Ripple v. SEC lawsuit is helping the cryptocurrency.
On the other hand, ADA, which is currently trading at $0.37 and has a market worth of $13,1 billion, had a 1.3% decline over the last week.
Both Bitcoin and Ethereum have had weekly declines of 3.8% and 1.4%, respectively. The undervaluation of altcoins may be a result of the dismal performance of the leading cryptocurrencies, providing investors with a possible opportunity.
Investors could be tempted to reevaluate their cryptocurrency investing strategy in light of this study. It is important to note that, although being intelligent, Santiment’s speculation does not assure that these cryptos will perform well in the near future.
