Analytics platform Santiment says 4 altcoin projects have garnered massive FOMO, accompanied by bullish US stock markets on Friday.
Santiment drew attention to altcoin projects that recorded massive volume growth
As the stock markets rallied on Friday, many altcoins exploded with them. After climbing $22,300, BTC price touched $23,000 for the first time since August today. Santiment says that the volume increases are supporting crypto prices. With HBAR, which is at the top with 33% according to the analytical platform, the altcoin projects that investors are most FOMO with:
- Hedera (HBAR): 33%
- Scale (SCL): 16%
- Solana (LEFT): 11%
- Decentraland (MANA): 11%
Meanwhile, Solana (SOL) has reached $25.16, up over 20% in the last 24-hour timeframe. The altcoin was the highest performer on a daily and weekly basis, gaining 12.73% over the past week. According to Santiment, the current Solana price increase is supported by volume increases. The analytics platform wrote on the chart that investors are experiencing massive FOMO (fear of missing out) in Solana and three other altcoins as a result of Friday’s massive surge.
The rally began shortly after SOL bottomed out at $8.19 after the FTX crash, with a positive tweet from Ethereum co-founder Vitalik Buterin expressing his “hope” that Solana “will get a fair chance to thrive.” Solana is currently holding this momentum above $25.
Solana (SOL) reaches levels where FTX collapse begins
Solana, which experienced one of the biggest losses in November due to its FTX connection, has had the opportunity to recover over 50% since the beginning of the year. Positive price movements are supported by what Ethereum co-founder Vitalik Buterin said about Solana, while development activities also present an optimistic picture of Solana’s long-term outlook. According to a recent report from Electric Capital, Solana was named one of the fastest growing developer ecosystems in 2022:
Electric Capital shows Solana to be the fastest growing developer ecosystem, surpassing a total of 2,000 developers in 2022. It is second only to Ethereum in raw numbers.
With the increase in the number of developers, Solana has seen a notable increase in the adoption of priority fees and local fee markets. This was seen across the network at the dApp and wallet levels. “Building Solana is getting easier than ever before,” the report says. “Developer interest is growing around hackathons, new courses, and other developer-friendly IRL events.” cryptocoin.com As we have mentioned, Vitalik Buterin made this point.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.