Latest Post

RSS feed generator to create RSS feeds from URLs Tekken 8 or Tekken Remake teased at EVO 2022


Analytics platform Santiment is looking at two cryptoassets that have recorded triple-digit percentage growth in a relatively short period of time.

Start with decentralized finance (DeFi) platforms UniSwap (UNI), Santiment Say The crypto asset has appreciated more than 150% in the past two months.

“Uniswap has performed quite well over the past seven weeks, decoupling from other altcoin packs in some cases, up +153% since June 18.”

According to Santiment, daily address activity on Uniswap has increased, and major shareholders of the cryptoasset have continued to increase their holdings.

“It’s great to see that shark and whale addresses have made up an increasing proportion of Uniswap’s total supply since May. The 100,000 to 1 million UNI addresses in particular saw a massive increase just two weeks ago. Hold. Then the price continued to rise.

Speaking of whales, the volume of block trades (what we consider to be deals worth $100,000 or more) is also recovering back to May levels. We can clearly see the large group of whales that started to form a week ago, just before the main price rose to $9.69. “

Source: Santiment

Uniswap is trading at $8.96 at the time of writing.

While those who bought Uniswap 30 days ago made double-digit profits, those who bought the crypto asset a year ago are still in the red, the crypto analytics firm said.

As a result, Santiment said that Uniswap’s price may drop in the short-term, but remains undervalued in the long-term.

“We can see that the 30-day market cap to realized value (MVRV) is currently as high as +22.5%, well above the back-tested ‘danger zone’ of +15% or higher. But even if medium-term trading returns start to overflow, good The news is that long-term traders (in 365-day MVRV) are still in dire straits. This means UNI could be down in the next week or two, but its future still seems undervalued in the long run.”

Source: Santiment

MVRV is the ratio of the current price to the average acquisition price of a particular asset. An increase in the MVRV value indicates an increase in potential profit.

Next looks Optimistic (OP) scaling solution in Ethereum (ETH). According to the analyst firm, Optimism experienced a “classic sell-and-pump” trend, surging from a low of $0.45 in July to a high of $2 in August, a gain of just over 300%.

At the time of writing, Optimism is trading at $1.93.

According to the Elliott Wave Theory, optimism could experience a correction of more than 30% in the short-term to a price just above $1.297, the analyst firm said.

“Expect a correction near the bottom of the fourth wave soon, but not more, as the five waves tend to continue after that.”

Source: Santiment

Elliott Wave Theory states that the long-term price trend of an asset moves in a five-wave pattern, while corrections move in a three-wave pattern.

Never miss a beat – subscribe to get encrypted email alerts delivered straight to your inbox

Check price action

follow us Twitter, Facebook and telegraph

Surf Daily Hodl Combo

View the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may suffer is your own responsibility. Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets and Daily Hodl is not an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Ekaterina Glazkova





Source link

Leave a Reply

Your email address will not be published.