Bitcoin Reaches New ATH Amid Rising Institutional Demand
Bitcoin reached a new ATH amid rising institutional demand and growing expectations for a Fed rate cut in September. Ethereum and altcoins are also seeing upward momentum, with ETH now close to surpassing its 2021 ATH.
While the market is on the rise, cryptocurrency analysis company Santiment said in its latest post that investors are showing great interest in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Monero (XMR), Chainlink (LINK) and OKB.
Trending Tokens in the Cryptocurrency World
The most trending tokens in the cryptocurrency world, based on social media discussion frequency, are:
Bitcoin: Trending because it’s being heavily debated. Discussions highlight BTC’s role as a store of value, its market dominance, and its perceived long-term potential despite volatility.
Ethereum: ETH is trending due to its recent price surge, surpassing $4,700 and speculations that it will soon reach $5,000. This trend is driven by market excitement around large liquidations, ETF inflows, and institutional investments like BlackRock’s Ethereum acquisition.
Solana: Discussions for SOL highlight Solana’s liquidity, market capitalization, price action, and active trading. Users compare Solana to other cryptocurrencies like Ethereum and Bitcoin, and discuss SOL-related ETFs and the prospect of potential price appreciation.
OKB: OKB is trending as OKX exchange conducted a massive token burn, reducing the total supply by approximately 75% to 21 million tokens. This burn resulted in a significant price increase of over 170%, with some exchanges reporting increases of up to 400%.
Monero: XMR has been in the news due to reports and discussions surrounding a suspected 51% attack on the Qubic mining pool’s network. This raises concerns about network security, potential double-spending attacks, and transaction censorship. The incident has fueled debate about Monero’s durability, decentralization, and role as a leading privacy coin in the crypto ecosystem.
Chainlink: LINK has been linked to price targets, market updates, and adoption in DeFi and traditional finance on Twitter. Reddit discussions highlight Chainlink’s technological and strategic importance, focusing on its partnerships with financial institutions, oracle services, staking, and its role in bringing real-world data onto the chain.
*This is not investment advice.