While Bitcoin has dropped to $93,000 in recent days, investor interest in the cryptocurrency market remains strong. According to a post by on-chain analytics platform Santiment, despite the drop in Bitcoin prices, investors are still showing interest in a number of altcoins.
Santiment said there are three cryptocurrencies that are on investors’ radar as Bitcoin falls, based on social media discussions. According to the data, Sandbox (SAND), Stellar (XLM), and Ethereum (ETH) are the focus of investors and are the most talked about altcoins on social media, he said.
“Although Bitcoin has dropped to $93,000, investors are still eyeing some popular altcoins:
Sandbox (SAND): Significant resurgence in Metaverse-related investments and increased investor confidence in SAND and related tokens shows a shift towards GameFi and metaverse projects.
Stellar (XLM): Increased interest from South Korean investors following a political incident further highlights XLM’s appeal to crypto investors. On social media, XLM is associated with price increases and market analysis, reinforcing its importance in the current market dynamics.
Ethereum (ETH): Ethereum’s price performance is being widely discussed when compared to other cryptocurrencies such as Bitcoin and XRP. Users are expressing optimism about Ethereum’s potential to outperform other large-cap assets, especially given the positive market conditions others see for the#2asset in crypto by market cap.”
Santiment notes that in addition to SAND, XLM, and ETH, many other altcoins including Pleasure Token (NSFW), Tornado (TORN), and Axie Infinity (AXS) are also among the altcoins with the highest social media trading volume in the past 24 hours.
