Conversations across the crypto space are circling back to blue-chip tokens, with Bitcoin, Ethereum, and Dogecoin taking the spotlight. Data from on-chain analytics platform Santiment shows that top market cap cryptocurrencies are dominating the surge in social chatter, with discussions ranging from institutional adoption and ETF speculation to technical barriers and ecosystem growth. Alongside them, Strategy, Tether, and MultiversX are also attracting strong attention.
Related Reading
Bitcoin And Ethereum Dominating Attention
Despite price resistance at $112,000 throughout last week, Bitcoin is still the most closely watched cryptocurrency by analysts and investors. According to on-chain analytics platform Santiment, Bitcoin is currently dominating among crypto investors thanks to extensive discussions about its long-term role as digital gold, a monetary network, and a hedge against inflation. Conversations focus heavily on its scarcity, institutional demand, and the importance of self-custody. Traders are also discussing Bitcoin’s liquidity in flash crypto offers that allow instant trading and spending across multiple platforms.
Ethereum is trending, with mentions also tied to its role in flash tokens and its utility across wallets and decentralized platforms. ETH discussions are based on its transferability and use in trading, staking, and gaming, while institutions continue to accumulate large volumes. However, the Ethereum price is also facing technical struggles in breaking above $4,500, having been rejected at $4,480 multiple times in the past seven days.
Strategy And Dogecoin Also Generate Social Buzz
Strategy’s and its MicroStrategy ($MSTR) stock are also hot topics due to the company’s massive Bitcoin reserves and its reputation as a leveraged proxy for BTC exposure. Particularly, market chatter has picked up around its potential inclusion in the S&P 500, which could cause institutional buying and fund inflows. At the same time, discussions show that investors are debating whether MSTR shares or Bitcoin ETFs provide better exposure.
Unsurprisingly, the word “Dogecoin” is in the limelight due to multiple developments last week. Most of Dogecoin’s mentions are based on the upcoming Rex-Osprey Dogecoin ETF, which could become a historic first for Dogecoin ETFs in the US financial market. Furthermore, Trump-backed company Thumzup is expanding Dogecoin mining operations by adding 3,500 rigs. Despite choppy price action last week, Dogecoin managed to close above $0.21.
Tether ($USDT) also saw huge mentions last week after the company announced deeper investments into gold, with its reserves now exceeding $8.7 billion. The company aims to expand into mining, refining, and trading, with its CEO calling gold a natural bitcoin. Additionally, new token listings related to Tether are appearing on platforms like BitMart.
Related Reading
MultiversX ($EGLD), meanwhile, is facing a different kind of attention. Social discussions highlight concerns about dilution of its supply and the migration of projects to other chains like SUI, raising doubts about long-term use cases. However, there’s optimism on projects such as xPortal and xMoney, with hopes that buyback mechanisms and upcoming launches could bolster value.
Featured image from Unsplash, chart from TradingView
Credit: Source link