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Santiment: These Three Cryptocurrencies Shape the Market’s Future
- Santiment report highlights Solana’s resilience and investor interest, Bitcoin’s buzz around ETF decisions, and Bitcoin SV’s significant gains driven by Korean trading.
- Additionally, it underscores Kadena’s promising start, Ordinals’ significant price movements, SEI’’s market growth, among other key developments.
- This positive sentiment was recently disrupted by Jim Cramer’s change of stance on Bitcoin.
Weekly Highlights
One of the leading market intelligence platforms, Santiment, has just released its report on weekly narratives. The highlights unsurprisingly include Solana (SOL), Bitcoin (BTC) and Bitcoin SV (BSV). According to the report, SOL consistently showcased resilience and a notable ability to maintain its position in the top trendsetter list throughout the week, culminating in a peak of investor interest.
Bitcoin, on the other hand, has seen remarkable activity spurred by the buzz around the pending ETF decisions, with news and updates coming out almost on an hourly basis. A decision is expected anytime between today and January 10. However, there is no guarantee that the United States Securities and Exchange Commission (SEC) will approve any or all Spot Bitcoin ETFs.
And stern Bitcoin critic and economist Peter Schiff even warns people to be careful what they wish for – warning investors about the volatility around price speculation.
BSV also saw immense gains in December on the back of a Korean trading frenzy, with gains of 94% from USD $50 (AUD $74) to USD $97 (AUD $143) over the past month.
Other Crypto Key Takeaways
Santiment states that Kadena (KDA) made a striking entry on December 25th with strong price performance, hinting at a promising future. Ordinals (ORDI) also had an impressive start, grabbing attention with significant price movements.
Ethereum (ETH) maintained stability amidst the crypto market’s fluctuations, driven by new innovations like Testnet 2 and token minting. Sei Network (SEI) intermittently appeared in the top-10, showcasing its high-speed transaction capabilities. Finally, Gains Network (GNS) displayed positive sentiment on December 31st, suggesting potential growth driven by active community engagement.
Overall, Santiment describes the crypto market sentiment as a blend of “cautious optimism and sharp enthusiasm.”
However, the positive outlook was somewhat shaken today when investing legend Jim Cramer, known for the term ‘Inverse Cramer,’ dramatically reversed his aversion to Bitcoin when he said “You can’t kill it [Bitcoin] and it’s here to stay.” The announcement triggered short selling talk and elicited comments such as “it was fun while it lasted.”
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
