According to the MVRV Z-Score, which gauges asset valuations based on average trader returns, certain top cryptocurrencies are categorized as overbought or underbought.
The analysis identifies Toncoin, Bitcoin, and Ethereum as overbought, while Uniswap and Shiba Inu are considered underbought.
📊 According to MVRV Z-Score, which identifies overvalued and undervalued assets based on average trader returns, top caps are in the following categories:
🤑Overbought: Toncoin, Bitcoin, Ethereum
😟Underbought: Uniswap, Shiba Inu pic.twitter.com/PWESMh7wRf— Santiment (@santimentfeed) June 29, 2024
In a recent tweet, an organization shared a list of the most valuable market assets, detailing the weekly, monthly, annual, and year-to-date returns for the top 10 Bitcoin assets.
#SHIB Grayscale Classifies Shiba Inu Among Valuable Cryptocurrencies 👇
POV : Imagine selling your Shiba INU for tokens that have no liquidity while grayscale said it is valuable. Keep learning #SHIBARMY .https://t.co/se66JJHnJ2
— Lola (@CryptoLollla) June 29, 2024
The data showed that weekly returns were negative for about six assets, including XRP, Bitcoin, and Shiba Inu. Conversely, Solana, Toncoin, and Tron demonstrated notable gains, emerging as the top performers.
📸 Grayscale Crypto Snapshot – Assets
–#bitcoin #ethereum $BNB $SOL $XRP $TON $DOGE $ADA $TRX $SHIB pic.twitter.com/be7S4a5o5i
— Grayscale (@Grayscale) June 27, 2024
Other Market Events With Coinbase Derivatives And The CFTC
In other news, Coinbase Derivatives has filed certifications with the Commodity Futures Trading Commission (CFTC) to list US-regulated futures for Shiba Inu (SHIB), Chainlink (LINK), Avalanche (AVAX), Stellar (XLM), and Polkadot (DOT).
This move by Coinbase Derivatives signifies bullish behavior and indicates a growing interest in providing more diverse and regulated investment options in the crypto market.
BREAKING: Coinbase Derivatives Files with CFTC to List Regulated Futures for $SHIB, $LINK, $AVAX, $XLM, and $DOT
Coinbase Derivatives has officially filed certifications with the CFTC to offer US-regulated futures for SHIB, LINK, AVAX, XLM, and DOT.
Bullish behavior.
— Kyle Chassé (@kyle_chasse) June 28, 2024
These developments highlight the dynamic nature of the cryptocurrency market, with significant shifts in asset valuations and new opportunities for traders and investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: kaedeezign/123RF // Image Effects by Colorcinch
