These Crypto Asset Classes Could Be Future Market Drivers: Santiment

Name	Symbol	Market	Market Cap ($)	Algorithm
Maker	MKRUSD	Crypto	2,496,008,137	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Maker

MKRUSD

Crypto

2,496,008,137

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	6.02	0.22%	2,705.94	2,705.21	2,705.91

Price Change

Price Change %

Current Price

Bid Price

Offer

6.02

0.22%

2,705.94

2,705.21

2,705.91

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,706.20	2,688.27	2,701.30	2,699.92	511.02 - 4,075.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,706.20

2,688.27

2,701.30

2,699.92

511.02 - 4,075.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	05:50:19	0.000370	2,705.94	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

05:50:19

0.000370

2,705.94

USD

Price x Volume	Volume	Base Symbol	Related Pairs
137,989.28	51.18	MKR	MKREUR	MKRGBP	MKRBTC

Price x Volume

Volume

Base Symbol

Related Pairs

137,989.28

51.18

These Crypto Asset Classes Could Be Future Market Drivers: Santiment

31/01/2024 1:00am

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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