Although Bitcoin did not explode due to optimism after the halving, it rose. Now investors expect it to hit new all-time highs. Bitcoin’s rise has also spurred meme coins, which are popular options for speculative investors. It also triggered volatility in some tokens from the DeFi space. In this atmosphere, analytics platform Santiment turned the spotlights on 2 altcoin projects.
“Profits are reallocated to more speculative cryptocurrencies!”
cryptokoin.comAs you follow from , Bitcoin is struggling to gain strength after the halving. The leading cryptocurrency made a move towards $67,200 during the day. However, it later lost some altitude. Now, it aims to regain the $70,000 level by picking up morale. According to experts, this will open the doors for it to rise to the ATH level in the coming weeks. Adding to the excitement, Bitcoin miners, who are typically major sellers, are noticeably reluctant to sell despite the increase in mining difficulty.
While Bitcoin maintains its $66,000 support, significant movements in Solana and XRP are noticeable in the altcoin markets. Amid these developments, market intelligence platform Santiment highlighted the changing dynamics in the cryptocurrency market, particularly the trend of short-term Bitcoin investors turning to more speculative altcoins, including meme coins. In this context, Santiment made the following statement:
Altcoin markets are on the rise as Bitcoin’s return above $67,000 ensures that profits continue to be reallocated into more speculative cryptocurrency assets. According to Santimentfeed’s dashboard, here are the tokens that received the highest increase in the discussions.
Santiment: These 2 altcoins attract the attention of traders!
Popcat (POPCAT): Rising star!
POPCAT, a Solana-based project, has recently emerged as a standout favorite among speculative investors among the meme coins. Market data shows a significant 30% increase in POPCAT’s price in the last 24 hours. The token is currently hovering around 0.45 cents.
Despite its small-cap status, POPCAT has an impressive fully diluted valuation (FDV) of approximately $457 million and a strong 24-hour trading volume of approximately $151 million. The recent price rise has revived hopes of revisiting its all-time high. Therefore, anticipation has increased for further price discovery in the coming weeks.
Amp (AMP): DeFi-based altcoin sees surge
In the DeFi-based altcoin category, Amp has garnered a lot of attention, especially due to the significant increase in transaction volume. According to the latest data, AMP has witnessed a significant 67 percent increase in daily trading volume. Thus, the altcoin transaction volume reached approximately 26 million dollars. This small-cap altcoin, with a market capitalization of around $340 million, has witnessed a commendable 20 percent increase in value in the last seven days. AMP was trading at around $0.008036 at the time of writing.
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