Santiment | Altcoins and tokens over bitcoin
Santiment | Altcoins and tokens over bitcoin Santiment | Altcoins and tokens over bitcoin

Analyticsplatform Santiment has shown that the discussion rate on bitcoin has dropped, and quite significantly. The reason for this is that short-term traders are busy watching what is happening in the altcoin and token space. And there is quite a bit going on.

All eyes on…

Many traders were mesmerized by the incredible rally of Solana, which surpassed the $100 valuation and continued to rise reaching (at the time of this writing) an ATH of $194.82(CoinMarketCap).

Santiment also noted that Polygon (MATIC) and Cardano (ADA) were leading the gaining themes metric. One of the most recent “No. 1 topics” was Matic, thanks to a 31% price increase in four days. Meanwhile, in the ADA context, most discussion has centered around reports of Cardano’s alleged “test network failure.

Prospects for bitcoin

Willy Woo described the growth trajectory of bitcoin on Twitter yesterday and compared it to the growth of gold and stocks(M2 aggregate). The comparison made on a chart of the same scale produced a stunning result.

Woo’s analysis has helped many put bitcoin’s seemingly lethargic growth into perspective. Moreover, the proponent of the stock-to-flow model, Plan B, has confirmed that his “$100,000 by Christmas” estimate is still valid.

At the time of publication, the price of BTC was at $52,343USD. The latest update of the Bitcoin Fear and Greed Index recorded a value of 79, signaling ” extreme greed”. As BTC hoarders look forward to the fall season, Santiment’s indicators suggest that more market participants may be focusing on the alternative coin market.

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From the Editor

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. do not contain a specific valuation of any financial instrument, are not based on any valuation method and do not specify any investment risk

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