Social Interest Dips For Top Performers ETH, ADA, and XLM

  • Santiment shared that some tokens are drifting under the radar despite their positive price performances over the past week.
  • ETH’s social volume has decreased by more than 17% despite its 13+% price rise over the past seven days.
  • The post shared by Santiment also pointed out that ADA and XLM are also being overlooked.

The market intelligence platform, Santiment, shared on X today that although many cryptocurrencies have flourished in the second half of October, price performance is no guarantee of social media interest. Some top performing tokens are being left in the background.

Santiment warned traders to be mindful of the fact that certain tokens may be “under the radar when compared to their social volume averages”. Chainlink (LINK) is being discussed 91% more with its 43+% weekly performance. On the other hand, Ethereum (ETH)  is being discussed 17% less compared to last week despite its 13+% price increase over the past week.

The intelligence platform also pointed out that Cardano (ADA) and Stelar (XLM) are also experiencing decreased social volume despite their positive performances over the past seven days.

ETH / Tether US 1D (Source: TradingView)

The lack of interest in ETH was also evident in the fact that the leading altcoin’s price decreased by over 3% since yesterday. This meant that ETH was trading hands at $1,779.45 at press time.The altcoin’s 24 hour trading volumes also ended up slipping by 3.49%, which left it settling at $9,787,067,446.

ADA / Tether US 1D Source: TradingView)

ADA, ranked as the eighth largest cryptocurrency by market cap, also saw its price decrease by 3.73% throughout the past day. This caused the Ethereum-killer’s price to drop to $0.2829, and meant that ADA was trading much closer to its 24 hour low price of $0.2789 than its high price of $0.297.

Stellar / Tether US 1D (Source: TradingView)

XLM suffered a similar fate as its price decreased by about 3.41%. This meant that the altcoin’s value stood at $0.1118 after its losses from the past day. It is worth noting that XLM’s weekly performance managed to stay in the green at +3.67%.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Comments

Post a Comment

Popular posts from this blog

Here’s how big food and beverage brands are using NFTs: Report

Image
The key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Nonfungible tokens (NFT) adoption is picking up steam across the food and beverage industry, with many fast-food chains displaying interest in this new asset class.  A report by ResearchAndMarkets.com states that the global food & beverage NFT market size is expected to reach USD 2,134.04 Million by 2032. These statistics have been evident as recently, Global fast-food brands , including Pizza Hut and Papa John’s, are discovering new ways to integrate NFTs into their marketing strategies.  The report states that the key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Unique ownership opportunities, using NFTs in virtual reality and video games, promotions and advertising from food companies and restaurants are o...
Read more

Strategist Warns Credit Suisse Next to Collapse — Says 'There's a Run on the Bank'

Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest investor. Credit Suisse Next to Fall, Says Strategist Market strategist Greg Foss warned about the impending collapse of Swiss banking giant Credit Suisse on the Coin Stories podcast, published Tuesday. His warning followed the collapses of several major U.S. banks, including Silicon Valley Bank and Signature Bank. Foss is currently executive director at Validus Power Corp. He was a founding shareholder of 3iQ Corp. and previously held the role of senior portfolio manager with a focus on credit strategies at Fiera Quantum. He was also a managing partner for credit strategies at both GMP Investment Management and Marret Asset Management, an...
Read more

Tax Authorities Of Argentina Check Bitcoin Wallets For Unpaid Taxes As Inflation Hits Max

Image
Mar 21, 2023 at 08:12 // News Author Nina Lyon An annual inflation rate of 100% is prompting Argentines to increasingly opt for cryptocurrencies. Bitcoin becoming a haven for Argentines The latest data points out that Argentina's annual inflation rate surpassed 100% in February 2023, reaching the highest level since the country's hyperinflation in 1991. Bitcoin and other cryptocurrencies have become a haven for Argentines trying to save their assets. However, Argentina's Federal Public Revenue Administration (AFIP) points out th...
Read more