Santiment reports a notable trend shift in the crypto community, with traders increasingly focusing on layer-1 assets like Bitcoin, Ethereum, Solana, Toncoin, and Cardano. This movement away from meme coins is seen as a positive sign for a more stable and sustainable market.
Santiment reported on February 11 that the crypto community has largely shifted its attention to Bitcoin and other layer-1 assets like Ethereum , Solana, Toncoin, and Cardano. Collectively, the top layer-1 assets are garnering 44% of discussions among specific cryptocurrencies, while top meme coins like Dogecoin, Shiba Inu, and Pepe are being discussed less and less across social media.
Santiment suggests this is a positive shift in trader attention, generally a sign of a more stable and sustainable market environment. Meme coins, driven by hype, viral trends, and a gambling mindset rather than fundamental value, signal a phase of excess greed where traders chase rapid, short-term gains without considering long-term viability. Increased focus on layer-1 assets, which prioritize security, innovation, and real-world adoption, reflects a more mature and informed approach by the community. When traders pivot back to assets with strong utility and established market positions, it suggests a healthier market cycle. The recent shift in sentiment away from meme coins and towards layer-1 assets comes at a time when the crypto market is showing slim signs of recovery. Bitcoin has reclaimed $98,000 during the Tuesday morning Asian trading session, leading the way for market capitalization, which has marginally increased to $3.35 trillion. However, Bitcoin remains down-trending since its January 20 all-time high. Ethereum has returned to $2,700 but remains severely weakened and continues to lose ground against Bitcoin. ETH needs to clear resistance at $3,100 to show any real recovery signals. Altcoins are faring a little better, with XRP, BNB, and DOGE making larger gains, and ADA surging 14% following a spot ETF application from Grayscale
CRYPTOCURRENCY LAYER-1 ASSETS MEMECOINS MARKET TRENDS BITCOIN ETHEREUM
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