The crypto market looks pretty good today with the most important coins trading in the green.
Bitcoin is currently trading in the green as well and the king crypto is priced at
$9,501.83.
Three digitals assets are poised to outperform Bitcoin
It’s been just revealed that the crypto analytics firm Santiment said that there are some crypto market metrics that show that ETH, BAT, and MKR are looking more bullish in the short term compared to Bitcoin.
Santiment looked at each one of the asset’s three-day averages in three metrics.
The online publication the Daily Hodl notes that the first one, Daily Active Addresses (DAA) vs. Price Divergence compares an asset’s price action to the number of unique crypto addresses that are interacting with the coin on a daily basis.
The metric views price action that is outpacing DAA as a bearish signal and vice versa as well.
“The second, Network Value to Transactions Ratio (NVT), compares the value transferred on a specific network (transaction volume/token circulation) to the network’s market cap,” the same online publication explained.
Also, it’s worth noting that if the transaction volume is low relative to market cap, an asset is considered overvalued and vice versa.
The same online pubcalition also mentioned the third metric, Sentiment Volume Consumed – this one measures the sentiment of market participants on Twitter.
Santiment used a simplified rating system
The firm managed to evaluate each one of the assets and they used a simplified rating system:
“0-10, with 0 representing the most bearish and 10 the most bullish. A 5 implies a prediction of sideways consolidation,” according to the notes.
We recommend that you check out the original article in order to learn all the details.
An important note that has to be made is that Santiment made sure to highlight the fact that none of their views on these assets mentioned above is not in the long run.
