Santiment has named altcoins that may be undervalued relative to their fundamentals
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Analysts at Santiment have named six altcoins that they believe are undervalued compared to fundamentals. At the moment, Bitcoin (BTC), Wrapped Bitcoin (WBTC), Ripple (XRP), HEX (HEX), Shiba Inu (SHIB) and Litecoin (LTC) may be promising for purchase.
Bitcoin and Wrapped Bitcoin
On December 8, Bitcoin is trading at $ 50.6 thousand. Over the week, the asset fell by 11%, and its capitalization fell to $ 954 billion, according to CoinGecko. On December 4, the price of the first cryptocurrency for the first time since the end of September reached $ 42 thousand.
Wrapped Bitcoin is a protocol for exchanging liquidity between Bitcoin and Ethereum blockchains. Every WBTC token on the altcoin network is pegged to bitcoin in a one-to-one ratio.
On December 8, XRP token price is $ 0.84. Over the past 7 days, the cryptocurrency has fallen in price by 15%, and its capitalization has decreased to $ 39.7 billion.
XRP is the token of the Ripple company. The US Securities and Exchange Commission (SEC) filed charges against Ripple in late 2020. The regulator accused the company of selling unregistered securities under the guise of $ 1.3 billion XRP tokens.
As of December 8, the value of the HEX token is $ 0.13. Over the week, altcoin fell 21%, and its capitalization fell to $ 23.2 billion, according to Coinmarketcap.
HEX is a blockchain-based depository system. The project provides fixed income through stacking.
On December 8, the Shiba Inu token is trading at $ 0.000037. Over the week, the cryptocurrency has fallen in price by 21%, and its capitalization has decreased to $ 20.4 billion.
Shiba Inu is a “meme” cryptocurrency, which its creators call the “Dogecoin killer”.
On December 8, the Litecoin price is $ 167. Over the past seven days, altcoin has fallen in price by 20%, and its capitalization has decreased to $ 11.5 billion.
Litecoin is a global decentralized p2p payment network built on the Bitcoin blockchain that was developed in 2011.
Earlier, the Whalestats service named the most bought altcoins after the collapse of the crypto market, which occurred on December 4. According to Whalestats, after the collapse of quotations on the Ethereum network, ETH, Polygon (MATIC), Chainlink (LINK), Decentraland (MANA), Fantom (FTM) and Basic Attention Token (BAT) were massively bought.
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