Ramazan Eles 
In a share made by on-chain analysis platform Santiment on April 25, the current status of altcoins was given. The company, which analyzes the market using MVRV data, emphasized that over 85% of altcoins are in a historic opportunity zone.
MVRV is the abbreviation of Market Value/Realized Value ratio. This is an indicator that shows whether a cryptocurrency is currently overvalued or undervalued. According to Santiment, the recent declines have brought many altcoins to a “cheap” position.
The Santiment side, which suggests that all the declines and the following fear atmosphere could be the right signals to buy, implied that such opportunities will not arise much in a bull market:
“According to our model, the medium-term gains and losses of average wallets indicate heavy losses occurring in most altcoin-based wallets. When calculating the collective returns of wallets in 1, 3 and 6 month cycles relative to the market value of its realized value (MVRV), over 85% of the assets we follow are in a historic opportunity zone. Buying may be justified as a growing fear seeps from the crowd after all these market value declines.”