While volatile movements in Bitcoin and altcoins continue, cryptocurrency analysis company Santiment announced the most popular altcoins in the cryptocurrency world in its latest post.
Accordingly, Santiment said that investors showed great interest in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), GameStop (GME), Kadena (KDA) and Chainlink (LINK) and named altcoins.
Gamestop is the leader in trending cryptocurrencies in the last 24 hours, followed by Bitcoin, Tether, KDA, LINK and ETH.
The cryptocurrencies that have attracted the most attention in the crypto industry and the reasons are listed as follows:
GME: GameStop (GME) stock is trending amid growing discussions focusing on potential short squeeze scenarios similar to past events.
Bitcoin: The word BTC is trending due to the growing discussions about capital rotation from gold to Bitcoin.
Discussions highlight a shift in investment from gold to Bitcoin. Bitcoin’s bullish trend and potential for a price double are also being discussed.
Tether (USDT): Tether is trending due to discussions about USDT and Tether Gold (XAUT). Tether is also notable for reaching 500 million users.
Kadena: KDA is trending due to the announcement that Layer 1 blockchain project Kadena will cease all operations and go bankrupt.
This caused the KDA token to lose approximately 60% of its value in a short period of time, resulting in significant losses for its holders.
Chainlink: LINK is in the spotlight with its participation at the Federal Reserve Payment Innovation Conference, where its executives discussed integrating traditional finance with DeFi, stablecoins, tokenization, and crypto payment innovations.
Considered a key player in the next-generation payment systems and crypto prediction markets, Chainlink is attracting interest from major financial and technology companies such as BlackRock, Coinbase, Google Cloud, and Circle.
Ethereum: ETH is trending due to extensive discussions about governance issues within the Ethereum Foundation and its relationship with projects like Polygon.
Key topics include discussions on Polygon’s status as an Ethereum Layer-2 solution, comparisons of Ethereum’s network efficiency to Bitcoin, and mentions of influential figures like Vitalik Buterin and Sandeep Nailwal.
Institutional investor interest, price movements, ETF outflows, large ETH transfers by the Ethereum Foundation, and Ethereum’s role in multi-chain bridges and lending platforms are also contributing to ETH’s trend.
*This is not investment advice.