Altcoins in the cryptocurrency market may be currently undervalued, according to on-chain data from Santiment. The analytics firm indicates that cryptocurrency traders are capitulating following a failed price rebound. The MVRV (Market Value to Realized Value) ratio, which measures the ratio between market cap and realized cap of any given cryptocurrency, is the relevant indicator here. The realized cap is based on a capitalization model for BTC that calculates a “fair value” for assets. When the MVRV is in the “opportunity” zone, the asset is underpriced, while it is overpriced in the “danger” zone. Santiment’s chart shows that most coins in the digital asset market are at least inside the positive territory at the moment, implying that they may have become undervalued recently, while a few cryptocurrencies are inside the negative zone with the possibility of registering a decline. At the time of writing, Bitcoin had dropped 1% in the last week to reach around $26,400.