Cardano Will Most Likely Double Over the Next Three Months, According to Santiment

Cardano is currently undervalued and could double in price over the next three months, according to crypto analytics firm Santiment. On 13 April 2021, Santiment announced in a blog post that it had added a metric called “MVRV-Ratio (Z-Score)” to its Sanbase platform. This metric “measures the discrepancy between the market value and the realized value of the coin.” According to Santiment,This is a useful metric because:

When it comes to valuation methods and coin due diligence, the MVRV (Market Value to Realized Value) ratio has become an increasingly popular choice among on-chain analysts. While it’s not without its drawbacks, the metric provides a simple way to gauge whether a certain coin is currently over- or undervalued, and the likelihood of an upcoming trend reversal.“ Well, today Santiment tweeted that $ ADA is currently “in its lowest relative position to realized value” since January 2019, suggesting that it is undervalued based on “average trader losses”. It also mentioned that the last time $ADA’s MVRV ratio was this low, its price doubled “in the following three months.

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