Bitcoin and altcoins failed to sustain the recovery they initiated in the final days of November and had a poor start to December. BTC and altcoins experienced sudden and sharp declines on the first day of the week and the first day of the month. The price of BTC fell back to $86,000, while altcoins also experienced significant losses.
However, while Bitcoin and altcoins have experienced a slight recovery in the last 24 hours, cryptocurrency analysis company Santiment announced the most popular altcoins in the cryptocurrency world in its latest post.
Accordingly, Santiment said that investors showed great interest in altcoins named Bitcoin (BTC), Tether (USDT), Chainlink (LINK), Dent (DENT), Polkadot (DOT) and Microstrategy (MSTR).
Bitcoin leads the trending cryptocurrencies in the last 24 hours, followed surprisingly by Microstrategy (MSTR), USDT, DENT, LINK, and DOT.
The cryptocurrencies that have attracted the most attention in the crypto industry and the reasons are listed as follows:
Bitcoin: The term “BTC” is trending due to extensive discussions about Bitcoin’s market behavior, investment strategies, and its role in the current bear market. Key points include buying dips, long-term holding, volatility, institutional involvement like MicroStrategy’s Bitcoin holdings, and financial strategies. Bitcoin’s past price cycles are also widely discussed.
MicroStrategy: The term ‘MSTR’ is trending due to extensive discussions surrounding MicroStrategy’s financial strategies involving Bitcoin holdings. Key points include concerns about MicroStrategy’s market value relative to Bitcoin’s net asset value, potential Bitcoin sales, and the company’s leveraged position through issuance of stock and debt to acquire Bitcoin.
Tether: The word ‘USDT’ is prominently featured in announcements about new trading pairs, new listings, campaigns, and updates from cryptocurrency exchanges. Generally, ‘USDT’ stands out for its stability and widespread use on blockchain networks across the crypto and financial ecosystem.
Dent: The word ‘DENT’ has been trending, particularly due to recent monitoring and the potential for Binance delisting. Users are expressing concerns about the token’s future, its price decline, and the impact of institutional acquisitions.
Chainlink: The buzzword ‘LINK’ is trending due to its critical role in the crypto ecosystem as a cross-chain oracle service that enables interoperability between blockchains. Grayscale’s announcement of the launch of the first US spot Chainlink ETF, converting its private LINK trust into a public fund, has also generated significant interest.
Polkadot: The word ‘DOT’ is trending due to its connection to Polkadot, the cryptocurrency covered in terms of price performance, staking, and technical updates. It also appears in financial contexts, such as the ‘Green Dot Debit Card’ and Michael Saylor’s ‘green dot’ comments regarding MicroStrategy’s Bitcoin reserves. The word ‘dot’ is also used metaphorically in connection with the Dot Com Bubble and liquidity injections by the Fed.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/santiment-names-six-cryptocurrencies-these-are-the-markets-most-trending-markets-while-bitcoin-btc-leads-there-are-surprising-altcoins/
