Bancor: a powerful MVRV tension might push it higher
Assets covered: Bancor BNT
Metrics used: MVRV, Price DAA Divergence, Daily Active Addresses, Exchange Inflow, Supply on exchanges, Amount held by top non exchange addresses, Development Activity, Transaction volume, Network Growth, Token Velocity.
Summary: Bancor is showing a bunch of positive signs starting from extremely 'underbought' MVRV values and all time high development activity. Looks good indeed despite fading Network Growth and Token Velocity.
Making predictions on Election day is going to be a full's game.
Stepping away from this key topic we stumbled upon a 'top buy opportunity' pick highlighted on Santiment MVRV model - Bancor:
Simply speaking BNT tokens looking now heavily underbought according to MVRV metrics.
What are other metrics showing? Any confirmations? Any opposite? Let's see.
Good signs
1. MVRV itself
A short term 30d MVRV is sitting at around -40% value, which has
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