Coin Edition -
- Bitcoin stabilizes at $98K, boosting interest in altcoins like Solana (SOL) and XRP.
- Solana leads social metrics with 8.65% dominance; XRP and DOGE follow in December 2024.
- Altseason momentum builds as altcoins surpass $100B market caps and gain investor attention.
Bitcoin (BTC) surged past the $100,000 milestone before settling at $98,000 in the past 24 hours. As Bitcoin steadies, altcoins have gained traction, with Solana (SOL) and XRP topping the social activity charts. Other notable blockchain projects, including Dogecoin (DOGE), Cardano (ADA), and Avalanche (AVAX), also rank high in engagement, reflecting growing interest among investors.
Solana shows a social dominance of 8.65%, followed by XRP at 4.45% and DOGE at 3.35%. Total (EPA:TTEF) interactions for these projects across social media platforms stand at 79.7 million, 47.6 million, and 26.8 million, respectively. Analysts predict these numbers could climb further as the altseason gains momentum.
Social Performance Breakdown
Cardano (ADA) and Avalanche (AVAX) also gained traction, with social dominance figures of 1.30% and 1.10%. Total interactions for ADA reached 10.3 million, and AVAX recorded 3.80 million. Completing the top 10 for social activity are Chainlink (LINK), BNB, Hedera (HBAR), Bittensor (TAO), and Injective (INJ).
Read also: Altcoins JASMY, SUI, & XNO Light Up Social Media as Bitcoin Takes a Breather
In recent days, altcoins have posted impressive price gains. Solana and XRP both surpassed a $100 billion market cap, outperforming Bitcoin and Ethereum over the past year. Cardano recorded a 224.10% increase in the last 30 days, signaling renewed investor confidence in the project.
What’s Driving the Buzz?
The surge in altcoin activity reflects heightened interest from retail investors. Upcoming events, like Cardano’s Chang hardfork and Ripple’s RLUSD stablecoin launch, along with strategic partnerships, add to this momentum.
Meanwhile, the crypto market anticipates significant regulatory shifts. President-elect Donald Trump’s announcement of David Sacks as the White House AI and crypto czar has further fueled optimism for altcoins. Analysts also expect new altcoin-focused exchange-traded funds (ETFs) under the leadership of SEC reformist Paul Atkins.
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