{"id":573155,"date":"2024-02-03T08:44:54","date_gmt":"2024-02-03T08:44:54","guid":{"rendered":"https:\/\/wncen.com\/?p=573155"},"modified":"2024-06-11T08:33:59","modified_gmt":"2024-06-11T08:33:59","slug":"these-altcoins-are-showing-high-social-dominance-after-recent-price-swings","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/these-altcoins-are-showing-high-social-dominance-after-recent-price-swings\/","title":{"rendered":"These Altcoins Are Showing High Social Dominance After Recent Price Swings"},"content":{"rendered":"

According to crypto intelligence platform Santiment, some altcoins have been enjoying increased attention<\/a> from investors over the past few days. This comes as the crypto market continues to undergo a positive recovery from its recent slump in the aftermath of the Bitcoin ETF launch.<\/span><\/p>\n

These Altcoins Show Potential For More Profit: Santiment<\/strong><\/h2>\n

In a post on the X<\/a> platform, Santiment revealed that three altcoins, including Chainlink (LINK), Immutable X (IMX), and Pyth (PYTH), have become assets of mainstream interest in the past few days.\u00a0<\/span><\/p>\n

This revelation is based on their performance in terms of Social Dominance, an indicator that compares the social volume of a particular asset to the combined social volume of the top 100 cryptocurrencies by market capitalization.\u00a0<\/span><\/p>\n

Related Reading: Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?<\/a><\/div>\n

\"Altcoins\"<\/p>\n

A graph showing the social dominance of LINK, IMX, and PYTH | Source: Santiment\/X<\/a><\/pre>\n
As shown in the chart above, the Social Dominance of these three altcoins has seen a notable spike in recent days. Interestingly, Santiment<\/a> has associated this renewed investor interest in Chainlink, Immutable X, and Pyth, with their market cap growth in the past week.<\/span><\/p>\n
According to data from Santiment, the valuations of LINK, IMX, and PYTH have increased by 34%, 23%, and 26%, respectively, in the last seven. The on-chain analytics noted that the mainstream crowd discussion around these altcoins will lead to FOMO (fear of missing out) amongst investors.<\/span><\/p>\n
Santiment further highlighted that this FOMO can trigger high price volatility and increased buying pressure for Chainlink, Immutable X, and Pyth. Ultimately, this can lead to more price gains for the three crypto assets.<\/span><\/p>\n
Chainlink Price Overview<\/strong><\/h2>\n
The price performance of Chainlink<\/a> in the past week has been the most impressive of the three altcoins highlighted by Santiment. According to data from CoinGecko, LINK\u2019s value has jumped by more than 24% in the past week.<\/span><\/p>\n
In a week dominated by Bitcoin\u2019s resurgence to above $43,000, Chainlink managed to become one of the biggest gainers in the last seven days. The cryptocurrency\u2019s price registered a positive run to almost as high as $19.<\/span><\/p>\n
Related Reading: Will Bitcoin Hit $1 Million By 2028? Experts Clash Over Bold Price Prediction<\/a><\/div>\n
As of this writing, the Chainlink token is valued at $17.69, reflecting a 1.2% price decline in the last 24 hours. The altcoin appears to be witnessing some amount of downward pressure as it is struggling to hold above the $18 level<\/a>.<\/span><\/p>\n
Nevertheless, Chainlink continues to lay a strong claim to a spot amongst the top 10 largest cryptocurrencies by market capitalization. With a market cap of over $10 billion, LINK ranks as the 13th-largest asset in the cryptocurrency sector.<\/span><\/p>\n
\"Altcoins\"<\/p>\n
LINK price faces resistance and stalls at the $18 level | Source: LINKUSDT chart on TradingView<\/a><\/pre>\n
Featured image from Shutterstock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
According to crypto intelligence platform Santiment, some altcoins have been enjoying increased attention from investors over the past few days. This comes as the crypto market continues to undergo a positive recovery from its recent slump in the aftermath of the Bitcoin ETF launch. These Altcoins Show Potential For More Profit: Santiment In a post on the X platform, Santiment revealed that three altcoins, including Chainlink (LINK), Immutable X (IMX), and Pyth (PYTH), have become assets of mainstream interest in the past few days.\u00a0 This revelation is based on their performance in terms of Social Dominance, an indicator that compares the social volume of a particular asset to the combined social volume of the top 100 cryptocurrencies by market capitalization.\u00a0 Related Reading: Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High? A graph showing the social dominance of LINK, IMX, and PYTH | Source: Santiment\/X As shown in the chart above, the Social Dominance of these three altcoins has seen a notable spike in recent days. Interestingly, Santiment has associated this renewed investor interest in Chainlink, Immutable X, and Pyth, with their market cap growth in the past week. According to data from Santiment, the valuations of LINK, IMX, and PYTH have increased by 34%, 23%, and 26%, respectively, in the last seven. The on-chain analytics noted that the mainstream crowd discussion around these altcoins will lead to FOMO (fear of missing out) amongst investors. Santiment further highlighted that this FOMO can trigger high price volatility and increased buying pressure for Chainlink, Immutable X, and Pyth. Ultimately, this can lead to more price gains for the three crypto assets. Chainlink Price Overview The price performance of Chainlink in the past week has been the most impressive of the three altcoins highlighted by Santiment. According to data from CoinGecko, LINK\u2019s value has jumped by more than 24% in the past week. In a week dominated by Bitcoin\u2019s resurgence to above $43,000, Chainlink managed to become one of the biggest gainers in the last seven days. The cryptocurrency\u2019s price registered a positive run to almost as high as $19. Related Reading: Will Bitcoin Hit $1 Million By 2028? Experts Clash Over Bold Price Prediction As of this writing, the Chainlink token is valued at $17.69, reflecting a 1.2% price decline in the last 24 hours. The altcoin appears to be witnessing some amount of downward pressure as it is struggling to hold above the $18 level. Nevertheless, Chainlink continues to lay a strong claim to a spot amongst the top 10 largest cryptocurrencies by market capitalization. With a market cap of over $10 billion, LINK ranks as the 13th-largest asset in the cryptocurrency sector. LINK price faces resistance and stalls at the $18 level | Source: LINKUSDT chart on TradingView Featured image from Shutterstock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":561323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,16295,89461,16097,82825,90497,57231],"class_list":["post-573155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-chainlink","tag-imx","tag-link","tag-link-price","tag-pyth","tag-santiment"],"acf":[],"yoast_head":"\nThese Altcoins Are Showing High Social Dominance After Recent Price Swings<\/title>\n<meta name=\"description\" content=\"According to crypto intelligence platform Santiment, some altcoins have been enjoying increased attention from investors in recent days.\" \/>\n<meta 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"These Altcoins Are Showing High Social Dominance After Recent Price Swings","url":"http:\/\/wncen.com\/news\/these-altcoins-are-showing-high-social-dominance-after-recent-price-swings\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/these-altcoins-are-showing-high-social-dominance-after-recent-price-swings\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1434643079.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1434643079.jpeg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","chainlink","imx","link","link price","pyth","santiment"],"dateCreated":"2024-02-03T08:44:54Z","datePublished":"2024-02-03T08:44:54Z","dateModified":"2024-06-11T08:33:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"These Altcoins Are Showing High Social Dominance After Recent Price Swings\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/these-altcoins-are-showing-high-social-dominance-after-recent-price-swings\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/these-altcoins-are-showing-high-social-dominance-after-recent-price-swings\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1434643079.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1434643079.jpeg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"chainlink\",\"imx\",\"link\",\"link price\",\"pyth\",\"santiment\"],\"dateCreated\":\"2024-02-03T08:44:54Z\",\"datePublished\":\"2024-02-03T08:44:54Z\",\"dateModified\":\"2024-06-11T08:33:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/shutterstock_1434643079.jpeg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573155"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=573155"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/561323"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=573155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=573155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=573155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}