Santiment Breaks Down “Most Trending” Altcoins Of Past Week

Keshav Verma

1 year ago

3 mins read

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Here are the various altcoins that Santiment has identified to have been the most trending cryptocurrencies of the past week.

Altcoins Like BONK Or SOL Saw Most Traction In Past Week

In a new insight post, the on-chain analytics firm Santiment has discussed about some alts that have taken focus during the last week. Based on social media data, Santiment determines tokens to be “trending” if they have been receiving significant attention in the past 24 hours.

The below chart shows the top altcoins for each day in the past week on the basis of this metric:

Looks like certain coins have repeatedly appeared on these lists | Source: Santiment

From the graph, it’s visible that the Solana-based meme coin BONK has pretty much observed the highest amount of traction on social media platforms during this period.

The main reason behind the dog-themed coin being so trendy has been its listings on the two largest cryptocurrency exchanges in the sector, Coinbase and Binance.

Injective Protocol (INJ) has been another asset that has consistently appeared on the Trending Tokens list. Santiment explains that the source of the altcoin’s popularity lies in its rally and hype for an upcoming airdrop.

Solana (SOL), the sixth-largest cryptocurrency by market cap, has also been discussed by social media users. “Between December 11 and 17, SOL climbed the ranks, attributed to several high-profile projects and partnerships,” notes the analytics firm.

“The ecosystem’s growth and its challenge to Ethereum’s dominance in Web3 were hot topics among traders and enthusiasts,” adds Santiment. Solana has also enjoyed some sharp uptrend in the past day, as the asset has shot up around 11% during the period.

Unsurprisingly, Internet Computer (ICP) has also gained steam during the last week, as the asset has surged more than 73%. Since its high above $11.5, though, the altcoin has registered some significant decline, as it’s now trading around $9.75.

“In summary, this week spotlighted the power of market catalysts — from exchange listings to pivotal updates — and their profound impact on project sentiments and trading activities,” says the analytics firm.

BONK’s Exchange Listing Hype Has Observed Some Cooldown

Soon after the meme coin received its listings on the aforementioned platforms, the BONK price shot up towards a new all-time high north of the $0.0000349 level. This extraordinary surge proved to be unsustainable, however, as profit-taking quickly ramped up and the altcoin fell back down.

BONK has since registered a very significant drop to the $0.0000206 mark. Here is a chart that shows how the meme coin’s performance has looked like in the past month:

The price of the altcoin appears to have shot up recently | Source: BONKUSD on TradingView

Despite this drawdown of 41% from the top, though, BONK is still up more than 56% in the past week, which is an impressive return nonetheless. Overall in the past month, the meme coin is carrying profits of 617%, showcasing just how strong the coin’s recent rise has been.

Featured image from Shutterstock.com, charts from TradingView.com, Santiment.net

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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