Bitcoin price has reached the level of $ 31,300 with the rise after the latest developments.
However, according to cryptocurrency analysis company Santiment, this has led to a focus on other altcoins that lag behind in social dominance.
Santiment wanted traders to watch carefully for major cryptocurrencies such as Ethereum, BNB, Cardano and XRP, which lag behind Bitcoin's social dominance. Because when this data is examined, these altcoins have not started their movements yet.
When the social dominance graph of cryptocurrencies with large market values shared by Santiment Pro is examined, we see that BTC naturally has the largest share and this share increases with the increase in price.
On the other hand, there is a decrease in social dominance, especially on the ADA, XRP and BNB side.
In the social dominance chart, Bitcoin's share was 23.95%, while BNB's was 0.64%, XRP's was 1.17%, and ADA's was 1.53%.
Santiment analysts also argued that when the charts of cryptocurrencies such as UniSwap (UNI) and Shiba Inu (SHIB) are examined, there is a large wave of FUD on them.
*Not investment advice.