{"id":541031,"date":"2023-07-04T14:00:47","date_gmt":"2023-07-04T14:00:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=541031"},"modified":"2024-06-11T12:28:20","modified_gmt":"2024-06-11T12:28:20","slug":"xrp-cardano-among-altcoins-keep-an-eye-on-santiment","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/xrp-cardano-among-altcoins-keep-an-eye-on-santiment\/","title":{"rendered":"XRP, Cardano Among Altcoins To Keep An Eye On: Santiment"},"content":{"rendered":"

Data from Santiment shows XRP and Cardano, among other altcoins, may be the ones worth keeping an eye on in the coming days.<\/p>\n

Social Dominance Of Altcoins Like XRP & Cardano Has Remained Low Recently<\/h2>\n

According to data from the analytics firm Santiment<\/a>, Bitcoin is seeing the greatest attention in the market right now, while some of the alts aren’t being talked about that much. The indicator of interest here is “social dominance<\/a>,” to understand which the “social volume” needs to be looked at first.<\/p>\n

The social volume<\/a> is a metric that measures the total amount of unique social media posts\/threads that are making mentions of a given asset or term. By “unique,” what’s meant here is that the indicator only counts these posts once regardless of how many times they mention the term (obviously, as long as they make at least one mention).<\/p>\n

If the metric counted the pure number of mentions instead, then a thread with a large number of mentions could raise the count by itself, even if mentions may be low everywhere else on social media. Thus, to obtain a more accurate representation of the trend in the wider market, the social volume only considers unique posts.<\/p>\n

Now, social dominance is an indicator that compares the social volume of a given cryptocurrency with the combined social volume of the top 100 assets (by market cap) in the sector.<\/p>\n

Related Reading: Historical Litecoin Bearish Signal Goes Off, Correction Incoming?<\/a><\/div>\n

Here is a chart that shows the trend in the social dominance of the five largest coins in the market: Bitcoin (BTC), Ethereum (ETH), BNB (BNB), XRP (XRP), and Cardano (ADA):\"XRP,<\/p>\n

Looks like the value of the metric has stayed low for the altcoins | Source: Santiment on Twitter<\/a><\/pre>\n
As displayed in the above graph, the social dominance of Bitcoin has been high since the rally started around the start of the year. The asset has been leading the price surge in these last few months, so it’s not particularly surprising that the interest in the cryptocurrency has been elevated during this period.<\/p>\n
Discussions around BTC on social media had been dropping slightly last month when FUD had been going around in the market, but with the latest leg in the rally<\/a> above the $30,000 level, interest has once again spiked in the coin.<\/p>\n
While this has happened, however, the other top assets like XRP have only observed a sideways trend or a drawdown in their respective social dominance. This would imply that these cryptocurrencies have failed to garner any significant attention during the last couple of weeks.<\/p>\n
Related Reading: Why Bitcoin Dominance Hints At A Surprise Altcoin Season Ahead<\/a><\/div>\n
The amount of discussion that Bitcoin is seeing, though, isn’t always a good sign, as too much excitement has historically often resulted in the formation of a local top.<\/p>\n
On the contrary, as the alts aren’t getting too much attention currently, they may have the potential for observing more price rise. Cardano, BNB, and XRP, in particular, have pretty low values of the indicator right now, which, according to Santiment, makes them worth keeping an eye on.<\/p>\n
XRP Price<\/h2>\n
At the time of writing, XRP is trading around $0.48, up 1% in the last week.<\/p>\n
\"XRP<\/p>\n
XRP seems to have been struggling recently | Source: XRPUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
Data from Santiment shows XRP and Cardano, among other altcoins, may be the ones worth keeping an eye on in the coming days. Social Dominance Of Altcoins Like XRP & Cardano Has Remained Low Recently According to data from the analytics firm Santiment, Bitcoin is seeing the greatest attention in the market right now, while some of the alts aren’t being talked about that much. The indicator of interest here is “social dominance,” to understand which the “social volume” needs to be looked at first. The social volume is a metric that measures the total amount of unique social media posts\/threads that are making mentions of a given asset or term. By “unique,” what’s meant here is that the indicator only counts these posts once regardless of how many times they mention the term (obviously, as long as they make at least one mention). If the metric counted the pure number of mentions instead, then a thread with a large number of mentions could raise the count by itself, even if mentions may be low everywhere else on social media. Thus, to obtain a more accurate representation of the trend in the wider market, the social volume only considers unique posts. Now, social dominance is an indicator that compares the social volume of a given cryptocurrency with the combined social volume of the top 100 assets (by market cap) in the sector. Related Reading: Historical Litecoin Bearish Signal Goes Off, Correction Incoming? Here is a chart that shows the trend in the social dominance of the five largest coins in the market: Bitcoin (BTC), Ethereum (ETH), BNB (BNB), XRP (XRP), and Cardano (ADA): Looks like the value of the metric has stayed low for the altcoins | Source: Santiment on Twitter As displayed in the above graph, the social dominance of Bitcoin has been high since the rally started around the start of the year. The asset has been leading the price surge in these last few months, so it’s not particularly surprising that the interest in the cryptocurrency has been elevated during this period. Discussions around BTC on social media had been dropping slightly last month when FUD had been going around in the market, but with the latest leg in the rally above the $30,000 level, interest has once again spiked in the coin. While this has happened, however, the other top assets like XRP have only observed a sideways trend or a drawdown in their respective social dominance. This would imply that these cryptocurrencies have failed to garner any significant attention during the last couple of weeks. Related Reading: Why Bitcoin Dominance Hints At A Surprise Altcoin Season Ahead The amount of discussion that Bitcoin is seeing, though, isn’t always a good sign, as too much excitement has historically often resulted in the formation of a local top. On the contrary, as the alts aren’t getting too much attention currently, they may have the potential for observing more price rise. Cardano, BNB, and XRP, in particular, have pretty low values of the indicator right now, which, according to Santiment, makes them worth keeping an eye on. XRP Price At the time of writing, XRP is trading around $0.48, up 1% in the last week. XRP seems to have been struggling recently | Source: XRPUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":541048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,12332,88557,57231,4531,88043,10972],"class_list":["post-541031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-cardano","tag-cardano-social-dominance","tag-santiment","tag-xrp","tag-xrp-social-dominance","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP, Cardano Among Altcoins To Keep An Eye On: Santiment<\/title>\n<meta name=\"description\" content=\"Data from Santiment shows XRP and Cardano, among other altcoins, may be the ones worth keeping an eye on in the coming days.\" 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP, Cardano Among Altcoins To Keep An Eye On: Santiment","url":"http:\/\/ktsl888.com\/news\/xrp-cardano-among-altcoins-keep-an-eye-on-santiment\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/xrp-cardano-among-altcoins-keep-an-eye-on-santiment\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/kanchanara-0kRsP5iRZI4-unsplash-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/kanchanara-0kRsP5iRZI4-unsplash-1-scaled.jpg?fit=2560%2C1703"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","cardano","cardano social dominance","santiment","xrp","xrp social dominance","xrpusd"],"dateCreated":"2023-07-04T14:00:47Z","datePublished":"2023-07-04T14:00:47Z","dateModified":"2024-06-11T12:28:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP, Cardano Among Altcoins To Keep An Eye On: Santiment\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/xrp-cardano-among-altcoins-keep-an-eye-on-santiment\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/xrp-cardano-among-altcoins-keep-an-eye-on-santiment\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-0kRsP5iRZI4-unsplash-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/kanchanara-0kRsP5iRZI4-unsplash-1-scaled.jpg?fit=2560%2C1703\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"cardano\",\"cardano social dominance\",\"santiment\",\"xrp\",\"xrp social dominance\",\"xrpusd\"],\"dateCreated\":\"2023-07-04T14:00:47Z\",\"datePublished\":\"2023-07-04T14:00:47Z\",\"dateModified\":\"2024-06-11T12:28:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/07\/kanchanara-0kRsP5iRZI4-unsplash-1-scaled.jpg?fit=2560%2C1703","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/541031"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=541031"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/541031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/541048"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=541031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=541031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=541031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}