Home Markets Interest in $ADA, $SHIB, $XRP and Others Grows as Crypto Markets Plunge

Interest in $ADA, $SHIB, $XRP and Others Grows as Crypto Markets Plunge

Interest in $ADA, $SHIB, $XRP and Others Grows as Crypto Markets Plunge

While the prices of most cryptoassets have fallen over the past week, a few cryptocurrencies have seen increased social interest as traders seemingly seek to get involved.

According to data from crypto-analytics firm Santiment, Ethereum ($ETH), $XRP, Cardano ($ADA), Shiba Inu ($SHIB) and Polygon ($MATIC) have also seen discussions about them grow in popularity. online over the past week, while talk of other cryptoassets has dropped significantly.

Notably, the price of XRP recently rose significantly ahead of a potential ruling on Ripple’s longstanding legal battle with the United States Securities and Exchange Commission (SEC). Ehtereum recently underwent its Merge upgrade, while Cardano’s Vasil hard fork is expected to happen later this week.

The meme-inspired cryptocurrency that Shiba Inu has saw its burn rate jump 3,000% to 200 million SHIB in just 24 hours, at a time when Ethereum ($ETH) whales are accumulating cryptocurrency.

In a separate tweet, as daily hodl reports, Santiment also noted that social trends show traders are divided when it comes to whether or not to buy the dip. Total cryptocurrency market capitalization has fallen by around $200 billion over the past week, with BTC falling below $20,000 and ETH below $1,500 during this period.

Separately, the company Noted that cryptocurrency whales are accumulating decentralized finance (DeFi) platform governance token Aave ($AAVE). Addresses holding between 1.00 and 1 million tokens in their wallets saw their holdings increase by 54.5%, the highest amount they have ever held.

Whale is also accumulating the decentralized oracle network token Chainlink ($LINK), with Ethereum addresses holding between 10,000 and 1 million LINK having seen their supply increase by more than 3%.

On the other hand, whales are divesting their holdings of Litecoin, Chiliz and OMG Network.

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