The cryptocurrency market fell by more than 3 percent during the day. Thus, the total market value fell to $ 3.2 trillion. However, this is largely due to Bitcoin’s 7 percent correction, falling below $ 93,000. On-chain analytics platform Santiment highlighted three crypto assets that have performed better recently.
Santiment: Keep a close eye on these 3 cryptocurrency projects!
As you follow on Kriptokoin.com, altcoins have been active lately. On-chain analytics platform Santiment highlighted the ones that performed better. Santiment said, “Traders are still looking at hot altcoins. They are also discussing certain stories surrounding under-the-radar opportunities.” In this context, Santiment stated that SAND, XLM and ETH are of interest.
Santiment also drew attention to Pleasure Token, Tornado and Axie Infinity. He stated that these 3 tokens had the highest 24-hour increase in social volume.
Sandbox (SAND)
The analytics platform noted that Sandbox (SAND) is being pumped amid a significant revival in metaverse-related investments and rising confidence among investors. This indicates a “shift towards GameFi and metaverse projects.” SAND has more than doubled in value over the past two weeks. Thus, it reached an eight-month high of just above $0.80 on November 25. However, it has since started to fall sharply. The cryptocurrency’s price has fallen to $0.63 at the time of writing.
Stellar Lumens (XLM)
XLM has gained 330% over the past two weeks. Thus, it reached its highest price since May 2021, $0.588 on November 25. However, the cryptocurrency’s price has fallen to around $0.455 at the time of writing. “The increased interest from Korean investors following a political incident further underscores XLM’s appeal among crypto investors,” Santiment said.
Ethereum (ETH)
Santiment also spoke about Ethereum’s “discussed price performance, unlike other cryptocurrencies like Bitcoin and XRP.” Santiment said of the leading altcoin, “Users are expressing bullish sentiment about Ethereum’s potential to outperform other majors.” Meanwhile, ETH has gained nearly 8% in the past week. The leading altcoin saw a 2% drop on its daily chart at the time of writing. As such, the cryptocurrency is trading around $3,350 as it corrects. This has not stopped Bitcoin maxis from continuing to spread Ethereum FUD memes. However, serious analysts see its potential in this cycle.
Is altseason here yet?
Bitcoin dominance is still at 58.6%. Therefore, altseason is unlikely to have arrived. A drop below 50 would indicate a reversal in the trend and altcoins will start to move. Moreover, analysts are confident that it is around the corner. Most altcoins are currently pulling back, and apart from ETH, only Toncoin (TON), Uniswap (UNI), Internet Computer (ICP), Ethereum Classic (ETC), and Bittensor (TAO) are in the green today.
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