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How are you catching these anchovies allot of thread fins I use die from being netted and handled. If you pick the best and leave the live well lightly loaded just like a fish tank, and not your typical "live well" along with the suggestions above
Welcome to R2R!!
We were able to successfully keep anchovies alive in a rather large baitwell for up to a week on my friend's live-aboard. The key is water movement and a very large baitwell. The tank must be large enough for adequate swimming of the fish. The size will depend on the number of fish you have. The smaller the baitwell the fewer the fish. They are rather delicate. The shape of the baitwell plays an important factor, also. Cylindrical is really the only option for longer-term viability. The flow from the feed pump must be redirected to flow with the shape of the cylindrical baitwell and not too strong so they have to struggle. These fish swim constantly at a nice slow even pace so, a constant, gentle, circular flow is needed. Finally, feeding is essential. These fish swim constantly because they are feeding constantly. Live brine, flake, very small pellets, it didn't seem to matter. Siphon or drain out any uneaten food that makes it to the bottom immediately, They feed in the water column only. Finally, remove the fish that perish immediately. This was easily accomplished as he lived on his vessel. They require regular care, with multiple, small feedings per day. At least this worked for us. A caveat, (Thanks @vetteguy53081 ), the water flow supplied was a constant feed from the ocean.
It's important to understand that a live bait tank differs from a closed live well system often found in boats and requires a continuous flow of water from ocean or lake where you are fishing and needs to have the ability to recirculate that particular water.
You literally need to keep these anchovies in buckets moving between water and an aerated cooler or they won't last very long. It will need to work effectively for short time periods as long as their isn't too much bait in there. Live anchovies are about the most fragile bait around, they get frantic and beat the crap out of themselves at the slightest change in their environment.

