During the recent rally, which saw Bitcoin and Ethereum soaring significantly, there were other altcoins that actually outperformed them in terms of growth but didn’t get much attention. Understanding their metric-driven data can reveal which of them is a suitable investment.

Altcoins that are worth investing in

WAVES, Ethereum Classic and Binance Coin. In the past 3 weeks, all 3 coins have done well and seen higher values. WAVES led by 123%, ETC followed closely and switched 90% and BNB was up 59%. Profits like these expand the options for altcoin investing.

In addition, ETC has become the absolute market leader in terms of the number of active addresses and transactions with almost 35,000 addresses and 70,000 transaction figures. The BNB did well on these points as well, but WAVES is in the lower regions in both aspects. The number of transactions for WAVES fell to 4.8k and active addresses were only 5,304.

Transaction numbers | Source: – Coinmetrics – AMBCrypto

In terms of return on investment (ROI), WAVES is actually better than ETC and BNB. Although values ​​are low at the moment, WAVES managed to cross Ethereum Classic by showing returns of up to 816% while ETC was at 724%. However, the basis of the investment remains the total value and potential of the coin.

Return on investment | Source: – Coinmetrics – AMBCrypto

Which has better value?

To understand this, let’s look at the ratio of market value to realized value (MVRV). The MVRV is used to determine the fair value of the asset and any value above 1 is considered positive. The MVRV was above 1 for both ETC and WAVES, while BNB has a comparatively better value. The BNB chart broke its two month downtrend and was now as high as it was in June.

BNB readings | Source: Santiment – AMBCrypto

This is proof that the alternative we are looking for can be found in either ETC or BNB, but not in WAVES as it has not yet had a significant impact.

LEAVE A REPLY

Please enter your comment!
Please enter your name here