- Market volatility remains high and social chatter on Bitcoin keeps growing.
- Santiment has spotlighted BTC, CHZ, and NUB as trending coins to watch.
The crypto market, synonymous with volatility, is currently seeing a downtrend. Despite current challenges, investors continue to show confidence in the market as they await the next bull run.
Onchain data analytics platform Santiment spotlights Bitcoin (BTC), Chiliz (CHZ), and Nubcoin (NUB) as the top three trending cryptocurrencies. Traders are paying increased attention to these coins on different social media platforms.
Bitcoin (BTC)
Bitcoin has continued to trend on social media in recent days following the release of an HBO documentary. The documentary delved into the ongoing mystery of Bitcoin’s creator, Satoshi Nakamoto. The Bitcoin founder created the coin in 2008 and launched it in 2009 before disappearing completely from the internet in 2011. Many have attempted to uncover his identity without success.
🗣️ As traders await signs of bullish momentum from crypto markets, the top 3 trending coins according to social media mention frequency are:
🪙 @Bitcoin $BTC: The recent HBO documentary suggesting Peter Todd as the creator of Bitcoin has sparked significant debate and… pic.twitter.com/9seX9JVcXA
— Santiment (@santimentfeed) October 10, 2024
The HBO documentary hinted that Bitcoin Core Developer Peter Todd was Satoshi Nakamoto, as CNF mentioned in a report. Todd is also the founder of OpenTimestamps, an independent cryptography consultancy firm. He has earned a reputation for being outspoken on various crucial topics concerning Bitcoin’s growth and future. HBO thought these accomplishments made him a strong contender for Satoshi Nakamoto.
However, Todd quickly refuted the claim on social media X on Wednesday. Still, the initial post attracted widespread attention, fueling Bitcoin’s price movements. As of this writing, BTC is down 2.2% in the past day to $60,766. However, the trading volume increased by 3.% % in the last 24 hours to over $27 billion.
Chiliz (CHZ)
Chiliz, the second coin highlighted by Santiment, is receiving increased social media attention due to the upcoming PEPPER airdrop.
The anticipation surrounding the coin has reverberated positively in its price. Within the last 24 hours, Chiliz’s price skyrocketed by 8% to $0.07307. The 24-hour trading volume also spiked 198% to $392 million, indicating a growing confidence in CHZ’s potential among traders.
As CNF previously discussed, many analysts perceive the Chiliz rally as a potential precursor to a more extensive trend. They foresee a deeper integration between blockchain and the sports and entertainment industry.
Nubcoin (NUB)
Nubcoin is the third trending coin across social media platforms spotlighted by Santiment. Nubcoin was named after a cute cat with a characteristic short tail known as the “nub.” NUB is branded as a memecoin, encouraging community and sharing humor among crypto enthusiasts.
The coin is gaining attention for its performance and prospective growth, with users expressing confidence over market activity. The “nub” is also linked to positive predictions and community engagement.
Unlike Bitcoin and Chiliz, NUB is down 7.5% in the past 24 hours to $0.03196. The 24-hour trading volume also declined 43% to $7.5 million. Nonetheless, traders and investors have kept it on a watchlist to see what happens next.
Investors should always exercise caution when trading with these coins, as the crypto market is unpredictable. These coins’ future performance hinges on the development and adoption of planned use cases within their ecosystems.
