Volatility continues to rock the digital currency ecosystem, with Bitcoin (BTC), Chainlink (LINK), and Dogecoin (DOGE) taking center stage. According to current market data, the cryptocurrency market capitalization has decreased by 2.05% to $2.28 trillion. The correction in the broader cryptocurrency market is consistent with the stock market, according to data insights from Santiment, a cryptocurrency analysis platform.
Advantages of Bitcoin, Chainlink and Dogecoin
Santiment has actually profiled 10 digital currencies that it claims have “crowd optimism.” The analytical platform used this term to refer to coins that are being talked about by more community members. Topping the sifted list of companies valued at at least $500 million is Chainlink.
Oracle service providers have been in the headlines on a number of occasions recently. Chainlink is establishing a new standard in interoperability by introducing privacy features to the Cross Chain Interoperability Protocol (CCIP).
🐻 Similar to the stock market, the crypto market is also correcting as traders increasingly speculate that the bull market is over. As the crowd's optimism turns into doubt, here are the projects with market caps above $500 million that show the best upside based on the crowd's buy-in for FUD.
1⃣… pic.twitter.com/OvnvlWdSus
— Santiment (@santimentfeed) October 23, 2024
Besides Chainlink, there is Bitcoin named Santiment, Goat Network, Dogecoin, XRP, PEPE, Filecoin, Shiba Inu, EigenLayer, and Beam. Of these, Bitcoin has recently become a hot topic. From a potential BTC ban by the Indian government to Michael Saylor's self-custody controversy, the coin remains at the forefront of social debate this week.
So far this week, Dogecoin has also attracted the attention of retail investors. From DOGE whale accumulation to ETF discussions, this coin is likely to fuel a new bull market.
Santiment noted that despite the current price being low, the speculative nature of the market could cause the coin to appreciate in the short term.
Where next? Top market predictions
It is worth noting that Bitcoin continues to be the standard for cryptocurrencies in the industry. Judging from the trends of the Spot Bitcoin ETF, many analysts are predicting the possibility of breaking through the all-time high (ATH) by the end of this year.
Notably, Bernstein analysts predicted a high price for the coin of $220,000. Another ambitious BTC price prediction calls for a $230,000 rally if BTC repeats gold’s bullish pattern. There are no guarantees in the market, but social sentiment and expectations could push the profiled coins higher in the near term.
Read more: 3 Chainlink LINK Alternatives to Buy by December 2024
godfrey benjamin
Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about the real-world applications of blockchain technology and the innovations driving public acceptance and global integration of emerging technologies. His desire to educate people about cryptocurrencies has inspired his contributions to well-known blockchain-based media and sites. Benjamin Godfrey loves sports and farming. X, Follow him on Linkedin
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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