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Altcoin Buying Opportunities Emerge as Crypto Markets Fall to Local Lows

2 mins
Updated by Kyle Baird

In Brief

  • Most altcoins are down more than 80% from their peaks.
  • BTC and ETH are down just 68% by comparison.
  • Markets are in the red again today with a 1.7% loss.
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Altcoin markets are being hit particularly hard again, but analytics firm Santiment sees a silver lining.

There are a number of emerging opportunities for altcoin investments, according to the on-chain analysis platform Santiment.

On March 9, the firm stated that altcoins are back in the buying zone with levels not seen since early January.

It used the market-value-to-realized-value (MVRV) ratio to ascertain which ones were down the most.

“If you have been awaiting the time to buy altcoins when there is blood in the streets, our MVRV model indicates that this time has arrived.”

Altcoin Markets in the Red

The majority of altcoins remain more than 80% down from their 2021 all-time highs. However, Santiment’s MVRV findings have identified a handful that could be good for longer-term gains.

MVRV is a ratio of an asset’s market capitalization versus its realized capitalization. The comparison of these two metrics can be used to get an idea of when prices are above or below ‘fair value’ to assess market profitability.

Higher values greater than around 3.5 indicate a larger degree of unrealized profit in the system. This increases the probability that investors will distribute coins to lock in gains, according to Glassnode.

According to Santiment, those flashing under-bought signals include 0x, DYDX, Yearn Finance (YFI), and a handful of obscure altcoins.

Looking at the high-cap altcoin prices shows several that are heavily down from their peaks. These include Ripple (XRP) at 88%, Cardano (ADA) at 89%, Dogecoin (DOGE) at 90%, Solana (SOL) at 93%, and Polkadot (DOT) at 90%.

These losses are greater than the overall crypto market, which is down 66% from its peak of just over $3 trillion in November 2021.

By comparison, Bitcoin (BTC) and Ethereum (ETH) are both down 68% from their all-time highs.

Crypto Markets Retreat

Crypto markets have retreated a further 1.7% on the day as total capitalization sinks to $1.04 trillion, according to CoinGecko.

Bitcoin lost 1.8% on the day to trade at $21,773 during the Thursday morning Asian trading session. BTC is now at a three-week low, having shed 10% over the past two weeks.

BTC/USD 1 week - BeInCrypto
BTC/USD 1 week – BeInCrypto

Ethereum has dropped 1.3% in a fall to $1,541 at the time of writing. ETH’s fortnightly loss is only around 6%, however.

Altcoins are bleeding out as expected, with heavy losses for Polygon (MATIC), Solana (SOL), Cosmos (ATOM), and Lido (LDO).


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.