Aave (AAVE), Compound (COMP) and These Two Altcoins Are Flashing Bullish Signals: Analytics Firm Santiment

Time Stamp: February 18, 2022 5:15 AM
Source Node: 1178578

A leading crypto analytics firm is naming four altcoins that it says present lucrative entry opportunities.

Santiment says in a tweet that the native tokens of decentralized finance (DeFi) platforms Aave (AAVE), Compound (COMP), Maker (MKR) and the native token of Ren (REN) recently hit a price bottom.

“AAVE, COMP, MKR, and REN have all shown very clear price bottoms recently. And they have all been accurately predicted by looking at how many active deposits have made up the total address activity of an asset.”

According to the analytics firm, the ratio of its bottom indicator is obtained by dividing active deposits (AD) by the number of daily active addresses (DAD) – AD/DAD. A low ratio indicates bullishness while a high ratio signals bearishness.

Starting with AAVE, Santiment says it is bullish on the DeFi platform due to its low AD/DAD ratio.

“We could suggest that low values of AD/DAD ratio are indicating nice buy opportunities.”

Next up is Compound. Santiment says that it is optimistic about COMP based on the AD/DAD ratio.

“Compound’s AD/DAD dipped to all-time low just a few days ago. Good sign.”

Next up is the native token of the Ren protocol, which enables the movement of digital assets across different blockchains. The analytics firm says that REN had a “bottomish splash” last month which potentially provided an ideal point.

In the case of the native token of Maker, Santiment says MKR’s rally could be relatively weaker.

“AD/DAD has dipped around the end of January. We could suggest it could surge more, not as strong as other tokens but still.”

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The post Aave (AAVE), Compound (COMP) and These Two Altcoins Are Flashing Bullish Signals: Analytics Firm Santiment appeared first on The Daily Hodl.

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