Following Bitcoin’s consecutive record highs earlier this week, Ethereum and altcoins are on the offensive. ETH has climbed above $3,100, while altcoins have also seen significant gains.
While this rise reignited the enthusiasm in the market, cryptocurrency analysis company Santiment said in its latest post that investors showed intense interest in Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), PEP, PEPE and MicroStrategy (MSTR) on social media.
Bitcoin (BTC): The word ‘BTC’ has been trending on Reddit, Telegram, and Twitter due to intense discussions about Bitcoin’s price movements, investment strategies, and market dominance. This signals an upward trend and increasing adoption. Bitcoin is expected to reach new market capitalization milestones.
Ethereum (ETH): Its institutional appeal, market capitalization, transaction behavior, and potential future performance are key factors. Ethereum’s role in DeFi, AI token ecosystems, and blockchain technology is further fueling interest and market activity, bringing ETH into focus within the crypto community.
XRP: XRP has experienced significant price gains, nearing all-time highs, as analysts predict potential rallies amid favorable market conditions and regulatory developments. This surge has seen investors closely monitor its movements and its correlation with Bitcoin.
PEP: The word ‘Pep’ has been trending due to its association with the layer-1 cryptocurrency Pepecoin (PEP), a fork of Dogecoin and Litecoin. PEP is gaining momentum with potential listings on major exchanges like Kraken and XT, separating it from the Ethereum-based PEPE. The community is optimistic about its growth potential and utility compared to other meme coins.
PEPE: The word ‘Pepe’ is trending due to the buzz around the name PEP (Pepecoin), a separate Layer 1 blockchain with proof of work.
MSTR: The word ‘Mstr’ is trending due to significant financial and crypto-related activity involving MicroStrategy (MSTR). This was also triggered by Vanguard Group’s announcement that it is the largest shareholder in MSTR, which holds a significant amount of Bitcoin on its balance sheet, worth approximately $75 billion.
*This is not investment advice.
