Santiment Discloses the Best 3 Alternative Coins to Purchase at Present
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**In the Spotlight: Altcoin Market’s Downtrend**
The digital currency landscape is currently facing a downturn, with even the usually resilient meme coins experiencing a slump. The weakening of Bitcoin’s value, along with the repercussions of the Mt. Gox payout, is casting a shadow over market morale.
Market analysts at Santiment report that a majority of altcoin investors are facing losses, submerged beneath the surface of profitability. Despite this, they pinpoint **Basic Attention Token (BAT)**, **Chromia (CHR)**, and **Highstreet (HIGH)** as potential investment opportunities worth considering.
**A Glimpse into the Altcoin Abyss**
The altcoin realm has been shrouded in a bearish fog in recent times, with the meme coin niche shrinking, despite a surge in transactions by major investors. Bitcoin’s price is once again testing the lower limits of a horizontal pattern established months prior, igniting concerns of an impending crypto downturn.
**Market Movements and Predictions**
The landscape is further complicated by the inconsistent inflows and outflows of US spot Bitcoin ETFs. Additionally, the German government’s increased Bitcoin liquidations, combined with Mt. Gox’s significant $9 billion distribution, have contributed to a less optimistic outlook.
As a result, altcoins are hemorrhaging value, with many reaching their lowest points in years when compared to Bitcoin.
**Santiment’s Trio of Altcoins to Keep an Eye On**
Santiment’s on-chain analysis reveals that the sea of altcoin holders is deep in the red, with substantial losses. Utilizing the Market Value to Realized Value (MVRV) metric, Santiment has identified altcoins that are either poised for a bullish run or are showing bearish signs.
The MVRV model, according to Santiment, offers mathematically sound entry points for **BAT**, **CHR**, and **HIGH**, while tokens like **ENS**, **MANTRA (OM)**, and **Reserve Rights (RSR)** are situated in zones that historically suggest selling would be advisable.
**Diving Deeper into the Tokens**
– **Basic Attention Token (BAT)**: BAT finds itself in a favorable purchasing zone, according to MVRV’s midterm analysis. Despite a fully diluted market cap of approximately $283 million and an average daily trading volume near $43 million, it remains 90% below its peak value. Currently, BAT is trading at about $0.189, a 23% decrease over the last month.
– **Chromia (CHR)**: Conceived by Sweden’s Chromaway AB, the CHR token also lands in a promising buying zone. With a fully diluted valuation close to $195 million and a daily trading volume of about $41 million, CHR has seen a 7% increase over the past week, now trading at roughly $0.2377. However, it’s still 83% below its highest recorded price.
– **Highstreet (HIGH)**: Highlighted by Santiment’s MVRV indicator, HIGH presents an attractive buying opportunity. With a fully diluted valuation of around $178 million, it’s a small-cap altcoin that could offer significant returns.
**Navigating the Bear Market**
Even in a bear market, strategic moves can uncover hidden gems. Could **BAT**, **CHR**, and **HIGH** be your keys to crypto triumph?
**Tags**: Altcoins, Price Analysis
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