Which tokens are currently overvalued?

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There are several sectors of the crypto market that are the most overvalued, according to 8848 Invest Lead Analyst Viktor Pershikov. He argues that this is primarily a sector of the metaverses (for example, MANA). There, the development of projects has not yet gone beyond the creation of “graphically poor” 3D universes, in many of which there is a downward trend in sales of “land” and “real estate”, writes RBC Crypto.

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“This sector may be interesting in the future, but so far it is overestimated due to the lack of technologies and developments in terms of “seamless” metaverses to the real world,” the specialist explained.

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The analyst also singled out the NFT sector among the overvalued ones, including popular collections and tokens of NFT platforms (AXS, Alice). According to Pershikov, such projects are weak from a fundamental point of view.

“The hype has passed and currently the lack of development in the NFT sector, including the development of legal framework and regulation, does not give a chance for further growth in the sector’s capitalization,” the analyst noted.

He called “obviously overvalued” the sector of tokens associated with various move-to-earn projects, such as GMT, FITFI and others. The expert recalled that this sector is famous for a large number of scammers and Ponzi schemes, while frankly stagnating against the backdrop of a drop in market capitalization as a whole.

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Source: Cryptocurrency

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