Altcoins Grow as Social Attention Moves Away From BTC

• Data from Santiment indicated that altcoins DOT, AVAX, and LDO saw some growth in their market caps.
• BTC’s social volume has been dropping, which could be an indication of a slight crowd greed bias in the market.
• BTC’s 0.23% decline in market dominance underscores Santiment’s statement that attention is shifting towards altcoins.

The market intelligence platform Santiment shared in an X post today that altcoins like Polkadot (DOT), Avalanche (AVAX), and Lido DAO (LDO) have seen some growth in their market cap. According to the post, this could be due to the fact that the Bitcoin (BTC) price keeps looking to target $40K before 2024.

#Altcoins like #Polkadot, #Avalanche, and #LidoDao have enjoyed nice market cap growth as #Bitcoin continues teasing a possible $40K market value before 2024. Note $BTC's declining social volume & rise in interest in others, which typically hints at a slight crowd greed bias. pic.twitter.com/QIsbDasCj1

— Santiment (@santimentfeed) December 1, 2023

Santiment also drew attention to the fact that BTC’s social volume has taken a bit of a knock while traders have shown more interest in altcoins such as DOT. The intelligen…

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