Have Altcoins Finally Taken Their Revenge On Bitcoin?

Alternative crypto enthusiasts closely follow Bitcoin and its influence on the market. If the queen of crypto loosens its grip, an explosion of altcoins could very well be on the horizon. According to the analysis platform Santiment, three names dominate traders’ discussions: Sandbox (SAND), Stellar (XLM), and Ethereum (ETH). These assets are capturing attention with bullish trends and specific contexts.

SAND and XLM: the unexpected gems of altcoins

Among the spotlighted altcoins, against the backdrop of a bearish reversal of Bitcoin approaching, Sandbox stands out due to a renewed interest in the metaverse. “Investor confidence in SAND and the associated tokens continues to grow“, notes Santiment. This favorable wind is explained by a strong comeback of metaverse-related projects after a period of downturn.

Stellar (XLM), on the other hand, is benefiting from unexpected enthusiasm in South Korea, linked to a local political event. This attention has boosted its price, making XLM one of the hot topics on crypto social networks.

Some notable data:

• SAND: increase in interest related to the metaverse;
• XLM: impact of Korean news;
• Liquidations: $518.8 million in 24 hours, with a majority being altcoins.

Ethereum: the favorite crypto of cautious traders

On the side of Ethereum, discussions are intensifying around its past performance and future prospects. Investors, while cautious, show marked optimism, hoping that ETH surpasses its competitors in market capitalization. As a trader highlights on X, the market seems unpredictable:

“This is the most complex altseason I have experienced. Capital flows defy all logic.“

Meanwhile, other altcoins such as Pleasure Token and Axie Infinity are recording spectacular increases in social volume. An indicator, according to Santiment, that traders’ interest is diversifying in this period of uncertainty.

To learn more about the cryptos that are shaking records, our colleagues at Cointribune recently highlighted five assets that have recently beaten their ATH. An analysis in which we discover that even meme coins stand out for their resilience and popularity.