Bitcoin’s ratio of discussions has reportedly hit its lowest level in the past 3 months; traders, meanwhile, are turning their attention to altcoins. Traders seem to be afraid of missing out on opportunities to invest in small-cap crypto projects and have sold Bitcoin to focus on these altcoins.
Santiment revealed that small projects such as Loom Network (LOOM), Cream Finance (CREAM), and Solaris (SXP) have gained a lot of attention, showing interest in these coins of the market.
As a result, these tokens have seen a significant increase in price over the past few days. LOOM surged more than 144% to $0.11, CREAM increased 65% to $17, SXP up 2.5% to $0.28 in just 1 week.
Besides LOOM, CREAM, and SXP, other altcoins like Frontier (FRONT), ImmutableX (IMX), and Chainlink (LINK) are also performing better than the majority of the crypto market.
Santiment believes that LINK, FRONT and IMX can continue to rise, with LINK being one of the cryptocurrencies showing the best upside in September, especially when it is listed on exchanges. While LINK, LOOM, SXP, and IMX have large market caps of hundreds of millions of dollars, altcoins like CREAM and FRONT have smaller market caps of less than $39 million.