Altcoins
Santiment REVEALS Top 3 Altcoins to Buy Now
The altcoin sector has been trapped in a bearish trend in recent weeks. The meme coin sector is also contracting despite increased whale activity on the blockchain. With the price of Bitcoin (BTC) retesting the lower bound of a horizontal channel that began four months ago, fears of further crypto capitulation persist.
Adding to the uncertainty, U.S. spot Bitcoin ETFs have seen mixed cash flows recently. Meanwhile, increased Bitcoin sales by the German government, along with Mt. Gox’s $9 billion distribution, have dampened bullish sentiment.
As a result, the altcoin market continues to bleed, with many of them trading at multi-year lows versus Bitcoin.
Santiment’s Top 3 Altcoins to Watch
According to Santiment’s on-chain analysis, the majority of altcoin holders are currently underwater, suffering significant losses. Using the Market Value to Realized Value (MVRV) indicator, Santiment identified the most potentially bullish and bearish altcoins.
The analysis also warned holders of ENS, MANTRA (OM) and Reserve Rights (RSR), noting that these tokens are in a historically negative sell zone.
Basic Attention Awareness (BAT)
According to MVRV’s medium-term divergence of opportunities and danger zones, BAT token is in the historically good buy zone. The small-cap altcoin, with a fully diluted valuation of around $283 million and an average daily trade volume of around $43 million, is still 90 percent below its all-time high.
The altcoin traded around $0.189 on Wednesday, down 23 percent in the last four weeks.
Chromia (CHR)
Similarly, Chromia (CHR), an open-source public blockchain conceived by Swedish company Chromaway AB, is in the historically good buy zone. The small-cap altcoin, with a fully diluted valuation of around $195 and an average daily trade volume of around $41 million, has surged more than 7 percent in the past seven days to trade around $0.2377 on Wednesday.
Nonetheless, the price of CHR is still down more than 83 percent from its all-time high.
Main Road (HIGH)
Santiment’s MVRV indicator highlighted that Highstreet (HIGH), a small-cap altcoin with a FDV of around $178 million, has recently been the best buying opportunity.
With the right strategy, even a bear market can present opportunities. Are BAT, CHR, and HIGH your ticket to crypto success?