Highlights
Volatility has continued to rock the digital currency ecosystem with Bitcoin (BTC), Chainlink (LINK) and Dogecoin (DOGE) in the spotlight. Current market data shows the combined crypto market cap dropping by 2.05% to $2.28 trillion. According to data insight from crypto analytics platform Santiment, the broader crypto market correction aligns with the equities market.
Santiment actually profiled 10 digital currencies it claimed have “crowd optimism.” The analytics platform used this term to denote the coins that more community members are talking about. Top on the list, sieved by those worth at least $500 million in valuation is Chainlink.
The oracle service provider has made headlines on different ocassions lately. By introducing privacy features into its Cross Chain Interoperability Protocol (CCIP), Chainlink is setting a new standard for interoperability.
https://twitter.com/santimentfeed/status/1849173997432225880?ref_src=twsrc%5Etfw” rel=”nofollow
Besides Chainlink, Santiment named Bitcoin, Goat Network, Dogecoin, XRP, PEPE, Filecoin, Shiba Inu, EigenLayer and Beam. Of these, Bitcoin has received significant chatter lately. From the potential Indian government ban of BTC, to the Michael Saylor self-custody controversy, the coin remains on the frontlines of social discussion this week.
Dogecoin has also drawn the attention of retail investors thus far this week. From DOGE whale accumulations to ETF discussions, the chances of the coin turbocharging a new bull rally is high.
Despite their currently lower prices, Santiment noted that the speculative nature of the market could market the coins soar in the short term.
It is worth noting that Bitcoin remains the standard of measure for cryptocurrencies in the industry. Judging by events like spot Bitcoin ETF trend, many analysts are predicting a potential breach of the All-Time High (ATH) before the end of this year.
In particular, Bernstein analysts predicted a $220,000 top for the coin. Another ambitious BTC price forecast tipped a $230,000 surge if the coin repeats Gold’s bullish pattern. While the market offers no guarantees, the social sentiment and expectations might drive the profiled coins upward soon.
Read More: 3 Chainlink LINK Alternatives to Buy Before December 2024
Bitcoin and altcoins falter ahead of the FOMC Minutes release and Jerome Powell speech due…
Binance’s Changpeng “CZ” Zhao made a post suggesting the start of the BNB meme coin…
Changpeng "CZ" Zhao's family office YZi Labs announced $1 billion Builder Fund to fuel BNB…
Litecoin (LTC) has been under investors' radar recently, after a 10% rally over the past…
CleanCore’s Dogecoin Treasury has reported over $20 million in unrealized gains just weeks after launch.…
Crypto market crash on Wednesday saw the market cap tumbling back to $4.1 trillion, down…