Crypto Market Analysis: Top 4 Altcoins to Watch Amid Bitcoin’s Rise in Price and Dominance
The Bitcoin market made a breathtaking run towards $31k on Monday as key stakeholders showed confidence and more accumulation signs. The fact that Coinbase was named in the BlackRock-backed Bitcoin ETF re-application by Nasdaq to help in the market surveillance program, was a bullish outlook for the industry. Moreover, experts believe the crypto market led by Bitcoin has received a lot of validation from a $10 trillion investment fund manager despite the regulatory scrutiny by the SEC.
Santiment Spots Top Altcoins Gems to Keep an Eye On
According to market intelligence platform Santiment, some top altcoins have shown a bullish outlook with their social dominance on the rise. Notably, Santiment noted that Bitcoin’s social dominance remains high at about 23.95 percent, but some top altcoins are getting sneaky. For instance, as of June 28, Ethereum had a social dominance of about 7.32 percent, XRP at 1.17 percent, Cardano (ADA) at about 1.53 percent, and BNB at around 0.643 percent.
As a result, Santiment informed crypto traders to keep a close watch on crypto assets, seeing little attention compared to Bitcoin, as their upside surge could happen anytime.
Worth noting, the altcoins mentioned by Santiment are under the radar of the United States Securities and Exchange Commission (SEC) for being unregistered securities. However, the respective crypto firms have vehemently defended their decentralization aspect. Nevertheless, the US judicial system has been left to issue a final ruling as Congress has failed to provide a clear crypto regulatory framework.
