These Crypto Asset Classes Could Be Future Market Drivers: Santiment
30 Janeiro 2024 - 10:00PM
NEWSBTC
According to analytics firm Santiment, Artificial Intelligence (AI)
and Real-World Assets (RWA) could be future drivers for the crypto
market. AI And RWA Crypto Tokens Have Seen High Interest Recently
As explained by Santiment in a new post on X, topics like AI and
RWA have recently seen a surge in interest. The indicator of
relevance here is the “Social Volume,” which keeps track of the
amount of discussion related to any given topic or term occurring
on social media platforms. Related Reading: Bitcoin Rally Still Has
Some Legs Left, Santiment Explains Why This metric makes this
measurement by counting the number of unique posts/threads/messages
that mention at least one topic in question. The indicator measures
the number of posts rather than the number of mentions themselves
because the latter can provide a skewed picture. Consider a
situation where many mentions are occurring on these platforms but
are limited to only a few posts. Discussion around the topic is
happening for sure. Still, the fact that only some users are
engaging in it could imply that the average user may not have any
interest in the topic. A large number of posts being made around
the topic, on the other hand, would imply discussion is happening
across social media, and hence, there has to be some interest
outside niche circles. Now, here is a chart that shows the trend in
the social volume of AI and RWA over the last few months: Looks
like the value of the metric has been high for both of these topics
in recent days | Source: Santiment on X As displayed in the above
graph, the Social Volume for these two topics has been at notable
levels recently, implying that the crowd has been paying attention
to them. Based on this increased interest, Santiment believes these
topics are “projecting to be future crypto market drivers.” “In the
ever-changing climate of trader interests over the years, such as
DeFi, NFT‘s, memecoins, or staking, these more recent topics have
been a major focus, and many related tokens have taken turns
benefiting from market decouplings,” notes the analytics firm.
Related Reading: Bitcoin Capitulation: Holders Flee BTC As Post-ETF
Disappointment Hits Santiment has also listed some cryptos that
connect with these topics. For the AI side, there is The Graph
(GRT), Fetch.ai (FET), SingularityNET (AGIX), Ocean Protocol
(OCEAN), and Bittensor (TAO). Meanwhile, for RWA, the analytics
firm has pointed out cryptos like Avalanche (AVAX), Chainlink
(LINK), Internet Computer (ICP), and Maker (MKR). Given the high
interest backing both these topics, it’s possible these assets
could be ones to keep an eye on in the future. Avalanche Price
Avalanche has observed a strong surge during the past week as the
asset’s price has shot up almost 30%. Following this surge, the
crypto has cleared the $35 level. The chart below shows how AVAX
has performed recently. The price of the crypto has observed a
sharp surge over the last few days | Source: AVAXUSD on TradingView
Featured image from Shutterstock.com, charts from TradingView.com,
Santiment.net
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