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A Manager at Santiment Examines Solana (SOL), Uniswap (UNI), AAVE and Decentraland (MANA)

An executive at Santiment crypto analytics firm examined cryptocurrencies that had risen in price earlier this week but later corrected
 A Manager at Santiment Examines Solana (SOL), Uniswap (UNI), AAVE and Decentraland (MANA)
READING NOW A Manager at Santiment Examines Solana (SOL), Uniswap (UNI), AAVE and Decentraland (MANA)

An executive at Santiment crypto analytics firm examined cryptocurrencies that had risen in price but later corrected earlier this week. Some of the cryptocurrencies examined by the analyst have been on the rise again since yesterday.

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In a new YouTube video, Santiment marketing director Brian Quinlivan says that the 30-day market cap to realized value (MVRV) metric is helpful when reviewing to invest in cryptocurrencies. The MVRV metric reveals the average profit/loss for cryptocurrencies in circulation.

According to the analyst, decentralized crypto exchange Uniswap (UNI) is currently falling into a “good opportunity zone” in terms of its 30-day MVRV.

“We usually look for something below 15% to be a good opportunity zone and we definitely jumped well below 15% there… We are still in the opportunity zone for Uniswap.”

But Uniswap has seen increased inflows into the stock markets as stock market supply increases accordingly, explains Quinlivan. The analyst says this development is “somewhat alarming”.

Quinlivan says whales are hoarding the management token of Aave (AAVE), a DeFi loan protocol. The analyst says this is a “good sign from a key stakeholder” of the crypto asset. He adds that AAVE is showing a bullish metric. Quinlivan noted that Decentraland’s MVRV and on-chain measurements are in a downward trend.

The cryptocurrency analyst says that development activity on the smart contract platform Solana (SOL) has increased over the past year.

“Daily GitHub submissions are now just over 500 per day, up from 190 a year ago. That’s a very good sign and an indication that Solana’s team still believes in improving the product, innovating whenever possible and they believe it has long-term sustainability, and that’s a really great thing to keep in mind when it comes to any asset.”

Solana’s native token SOL was trading at $106 at the time of writing.

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