Undervalued tokens can be directly identified from the 30-day MVRV indicator.

MVRV, essentially the ratio of "Market Cap vs. Realized Value," is used to determine whether the majority of holders in a certain cycle are making a profit or a loss. It is not an emotion indicator; it is a reflection of the on-chain cost structure.
When MVRV is negative, it indicates that most chips are in a loss position. The momentum for further selling at this level will significantly weaken, making it easier to form a medium-term safe buying zone. The lower the value, the deeper the potential loss, and the smaller the potential risk.

When MVRV is positive, it means that most people are in profit. During this phase, the market is more prone to profit-taking, and the risk of chasing highs will significantly increase. The higher the value, the more concentrated the risk.
Based on the current 30-day MVRV data:
LINK: -9.5%, clearly undervalued zone
ADA: -7.9%, undervalued zone
ETH: -7.6%, undervalued zone
XRP: -5.7%, slightly undervalued
BTC: -3.7%, mildly undervalued