Here are the various altcoins that Santiment has identified to have been the most trending cryptocurrencies of the past week.<\/p>\n
In a new insight post<\/a>, 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 \u201ctrending\u201d if they have been receiving significant attention in the past 24 hours.<\/p>\n The below chart shows the top altcoins for each day in the past week on the basis of this metric:<\/p>\n\n From the graph, it\u2019s visible that the Solana-based meme coin BONK<\/a> has pretty much observed the highest amount of traction on social media platforms during this period.<\/p>\n 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<\/a> and Binance.<\/p>\n Injective Protocol (INJ) has been another asset that has consistently appeared on the Trending Tokens list. Santiment explains that the source of the altcoin\u2019s popularity lies in its rally and hype for an upcoming airdrop.<\/p>\n Solana (SOL)<\/a>, the sixth-largest cryptocurrency by market cap, has also been discussed by social media users. \u201cBetween December 11 and 17, SOL climbed the ranks, attributed to several high-profile projects and partnerships,\u201d notes the analytics firm.<\/p>\n \u201cThe ecosystem\u2019s growth and its challenge to Ethereum\u2019s dominance in Web3 were hot topics among traders and enthusiasts,\u201d adds Santiment. Solana has also enjoyed some sharp uptrend in the past day, as the asset has shot up around 11% during the period.<\/p>\n 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\u2019s now trading around $9.75.<\/p>\n \u201cIn summary, this week spotlighted the power of market catalysts \u2014 from exchange listings to pivotal updates \u2014 and their profound impact on project sentiments and trading activities,\u201d says the analytics firm.<\/p>\n 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.<\/p>\n BONK has since registered a very significant drop to the $0.0000206 mark. Here is a chart that shows how the meme coin\u2019s performance has looked like in the past month:<\/p>\n\n 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\u2019s recent rise has been.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Here are the various altcoins that Santiment has identified to have been the most trending cryptocurrencies of the past week.<\/p>\n In a new insight post<\/a>, 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 \u201ctrending\u201d if they have been receiving significant attention in the past 24 hours.<\/p>\n The below chart shows the top altcoins for each day in the past week on the basis of this metric:<\/p>\n From the graph, it\u2019s visible that the Solana-based meme coin BONK<\/a> has pretty much observed the highest amount of traction on social media platforms during this period.<\/p>\n 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<\/a> and Binance.<\/p>\n Injective Protocol (INJ) has been another asset that has consistently appeared on the Trending Tokens list. Santiment explains that the source of the altcoin\u2019s popularity lies in its rally and hype for an upcoming airdrop.<\/p>\nBONK\u2019s Exchange Listing Hype Has Observed Some Cooldown<\/h2>\n
Altcoins Like BONK Or SOL Saw Most Traction In Past Week<\/h2>\n