Altcoins
Santiment Reveals Top 3 Altcoins to Buy Right Now
The altcoin industry has been in a bearish trend for the past few weeks. Even the meme crypto sector is contracting despite increased whale activity on the blockchain. As Bitcoin (BTC) price retested the lower boundary of a horizontal channel that began four months ago, fears of another crypto capitulation persist.
US spot Bitcoin ETFs have seen mixed cash flows recently, adding to the uncertainty. Meanwhile, increased Bitcoin sales by the German government, coupled with Mt. Gox’s $9 billion distribution, have dampened bullish sentiment.
As a result, the altcoin market continues to bleed, with many altcoins trading at multi-year lows compared to Bitcoin.
Top 3 Altcoins to Watch According to Santiment
According to Santiment’s on-chain analysis, most altcoin holders are currently underwater and suffering significant losses. Using the Market Value to Realized Value (MVRV) indicator, Santiment has 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 bad sell zone.
Basic Attention (TAB)
According to the MVRV mid-term opportunity and danger zone divergence, the BAT token is in the historically good buy zone. The small-cap altcoin, with a fully diluted valuation of ~$283 million and an average daily trading volume of ~$43 million, is still 90% below its all-time high.
The altcoin was trading around $0.189 on Wednesday, down 23% over the past four weeks.
Chromie (CHR)
Similarly, Chromia (CHR), an open-source public blockchain built by Swedish company Chromaway AB, is in the historically favorable buy zone. The small-cap altcoin, with a fully diluted valuation of around $195 and an average daily trading volume of around $41 million, has climbed more than 7% over the past seven days to trade at around $0.2377 on Wednesday.
Nevertheless, the price of CHR is still down more than 83% from its all-time high.
Main Street (HIGH)
Santiment’s MVRV indicator highlighted that Highstreet (HIGH), a small-cap altcoin with a FDV of around $178 million, presented the best buying opportunity recently.
With the right strategy, even a bear market can present opportunities. Are BAT, CHR, and HIGH your assets for success in the cryptocurrency space?