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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Jul 03, 2024 11:04 UTC
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Santiment REVEALS Top 3 Altcoins to Buy Right Now
The altcoin market is bearish, even meme coins are down. Bitcoin price weakness and Mt. Gox distribution are hurting sentiment.
Santiment says most altcoin holders are underwater.
They recommend Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH) for potential buys.
The altcoin industry has been caught in a bearish trend for the past few weeks. Even the meme coin sector is contracting despite increased whale activity on the blockchain. With Bitcoin’s (BTC) price retesting the lower border of a horizontal channel that began four months ago, fears of further crypto capitulation persist.
Adding to the uncertainty, US spot Bitcoin ETFs have seen mixed cash flows recently. Meanwhile, heightened Bitcoin sales by the German government, coupled with Mt.Gox’s $9 billion distribution, have dampened bullish sentiment.
Consequently, the altcoin market continues to bleed, with many altcoins trading at multi-year lows against Bitcoin.
Santiment’s Top Three Altcoins to Watch
According to on-chain analysis from Santiment, most altcoin holders are currently underwater, experiencing significant losses. Using the Market Value to Realized Value (MVRV) indicator, Santiment identified the most potentially bullish and bearish altcoins.
The analysis also cautioned holders of ENS, MANTRA (OM), and Reserve Rights (RSR), noting that these tokens are in a historically bad sell zone.
Basic Attention (BAT)
According to the MVRV midterm 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 about $283 million and a daily average traded volume of about $43 million, is still 90 percent below its all-time high.
The altcoin traded around $0.189 on Wednesday, down 23 percent in the past four weeks.
Chromia (CHR)
Similarly, Chromia (CHR), an open-source public blockchain conceived by the Swedish company Chromaway AB, is in the historically good buy zone. The small-cap altcoin, with a fully diluted valuation of about $195 and a daily average traded volume of around $41 million, has pumped over 7 percent in the past seven days to trade about $0.2377 on Wednesday.
Nonetheless, CHR price is still down over 83 percent from its all-time high.
Highstreet (HIGH)
Santiment’s MVRV indicator highlighted that Highstreet (HIGH), a small-cap altcoin with an FDV of around $178 million, has presented the best buy opportunity recently.
With the right strategy, even a bear market can present opportunities. Are BAT, CHR, and HIGH your ticket to crypto success?
Yes 
No 
