Leading Cryptocurrencies to Monitor: Data Indicates Potential for Significant Growth

New on-chain data shows a significant profit disparity among major cryptocurrencies, sparking conjecture about which are set for significant growth. Market intelligence platform, Santiment, reports that 94.5% of Bitcoin (BTC) holders and 88.7% of Ethereum (ETH) holders are in unrealized profit. However, less than half of Cardano (ADA) holders are in profit, suggesting potential undervaluation. Despite recent sell-offs, Bitcoin has maintained its value due to new buyer demand.

On the other hand, ADA has been declining, making it potentially attractive to contrarian investors. Santiment's data suggests coins like Chainlink (LINK) and ADA might have untapped growth potential if sentiment improves. Crucial factors include Bitcoin's ability to maintain support amid profit-taking, Ethereum's leverage unwind, and the conversion of oversold signals into sustained demand for altcoins.