Although Bitcoin has recently seen a pullback towards the $93,000 level, investor interest in the cryptocurrency market still remains strong.$BTC
Despite the decline in Bitcoin price, investors continue to show interest in certain altcoins, according to data from on-chain analytics platform Santiment.
Based on social media discussions, Santiment highlighted three altcoins that are on investors’ radars amid Bitcoin’s decline.
According to the data, Sandbox (SAND), Stellar (XLM) and Ethereum (ETH) are among the altcoins that investors focus on and are most talked about on social media.
“As Bitcoin retreats to $93,000, investors are still focusing on some popular altcoins”:
Sandbox (SAND): The increasing interest in metaverse projects seems to have increased confidence in SAND and related tokens, indicating a shift towards projects in the GameFi and metaverse spaces.
Stellar (XLM): The recent increase in interest from Korean investors is causing XLM to attract more attention among crypto investors. XLM is associated with price increases and market analyses on social media, increasing its importance in the market.
Ethereum (ETH): Ethereum’s price performance has been in the news more when compared to other crypto assets like Bitcoin and XRP. Users are optimistic that Ethereum, as the second-ranked asset by market cap, could outperform other large-cap assets thanks to favorable market conditions.
Santiment also noted that, apart from SAND, XLM, and ETH, altcoins such as Pleasure Token (NSFW), Tornado (TORN), and Axie Infinity (AXS) were also among the assets that experienced the highest increase in social media volume in the last 24 hours.