3 Signs That Leading Cryptocurrencies Could Be Overvalued
Volatility is nothing new to the crypto market, but when it appears, it can still be jarring. On Sept. 22, the crypto market saw a steep sell-off in nearly every top cryptocurrency. Bitcoin (CRYPTO: BTC) sank by 3%, while Ethereum (CRYPTO: ETH) fell by 9%, the fall triggered by a liquidation of $1.5 billion in leveraged crypto positions.
Is the recent crypto pullback a healthy correction? Or is it yet another sign that the top cryptocurrencies could be wildly overvalued? Let's take a closer look.
In the crypto market, the one trade that captivated investors during the summer was the so-called DAT trade. DAT stands for digital asset treasury, and it has become a shorthand way to refer to publicly traded companies that do nothing but buy a specific cryptocurrency.
Source Fool.com
