While Bitcoin has been pulling back towards $93,000 levels in recent days, investor interest in the cryptocurrency market remains hot.
According to a post by on-chain analytics platform Santiment, even though Bitcoin price has fallen, investors are showing interest in some altcoins.
Santiment said that three altcoins are on investors’ radars as Bitcoin falls, based on social media discussions.
According to the data, Sandbox (SAND), Stellar (XLM) and Ethereum (ETH) are the focus of investors and are the most talked about altcoins on social media, he said.
“While Bitcoin has fallen to $93,000, investors still have some popular altcoins on their radar:
Sandbox (SAND): A significant revival in investments related to the Metaverse and increasing investor confidence in SAND and related tokens indicate a shift towards GameFi and metaverse projects.
Stellar (XLM): The increased interest from Korean investors following a political incident further highlights XLM’s appeal among crypto investors. On social media, XLM is associated with price increases and market analysis, reinforcing its importance in the current market dynamics.
Ethereum (ETH): Ethereum price performance is more widely discussed when compared to other cryptocurrencies like Bitcoin and XRP. Users are expressing optimistic sentiment about Ethereum’s potential to outperform other large-cap assets, especially given the positive market conditions perceived by others for the No. 2 market cap asset in crypto.”
Santiment noted that apart from SAND, XLM and ETH, various altcoins including Pleasure Token (NSFW), Tornado (TORN) and Axie Infinity (AXS) were also among the altcoins that experienced the highest increase in social volume in the last 24 hours.
*This is not investment advice.