{"id":12280,"date":"2024-04-04T16:20:52","date_gmt":"2024-04-04T13:20:52","guid":{"rendered":"https:\/\/forklog.com\/en\/santiment-identifies-trending-tokens\/"},"modified":"2024-04-04T16:20:52","modified_gmt":"2024-04-04T13:20:52","slug":"santiment-identifies-trending-tokens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/santiment-identifies-trending-tokens\/","title":{"rendered":"Santiment Identifies Trending Tokens"},"content":{"rendered":"<p>Santiment has identified Wormhole (W), Ethena Labs (ENA), and Waves (WAVES) as the most popular tokens currently, reflecting market sentiment and sparking discussions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? The following assets sit atop the top trending list of <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> assets that are driving market discussions and sentiment:<\/p>\n<p>1\u20e3?<a href=\"https:\/\/twitter.com\/wormhole?ref_src=twsrc%5Etfw\">@wormhole<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24W&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$W<\/a>: Trending due to the Wormhole Token Generation Event (TGE) and a massive <a href=\"https:\/\/twitter.com\/hashtag\/airdrop?src=hash&#038;ref_src=twsrc%5Etfw\">#airdrop<\/a> of over 670 million <a href=\"https:\/\/twitter.com\/hashtag\/tokens?src=hash&#038;ref_src=twsrc%5Etfw\">#tokens<\/a> scheduled for today.\u2026 <a href=\"https:\/\/t.co\/2BP1DUOXsZ\">pic.twitter.com\/2BP1DUOXsZ<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1775637058444497204?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\"><strong>Wormhole<\/strong><\/h2>\n<p>The W token was included in the list amid the excitement surrounding the cross-chain protocol Wormhole&#8217;s airdrop and its listing on trading platforms. On April 3, developers opened the claim for over 600 million tokens for approximately 400,000 users.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/wormhole\">CoinGecko<\/a>, at the time of writing, the token&#8217;s market capitalization stands at $2.1 billion with a daily trading volume of $1.5 billion.<\/p>\n<p>However, the airdrop did not proceed without issues. The community noted a significant number of scammers, and the official X-account of Wormhole co-founder Robinson Burkey was hacked to distribute phishing attacks.<\/p>\n<p>The W token&#8217;s price plummeted by about 30% from its peak but has slightly slowed its decline and begun to recover, trading at $1.17.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/oHmXhZARviehf8rnS2GYHQ8KyVt0buNRlRKiHCNL-i1hHx_jp0Bxh_uj122AIWHVzSpfok6fXkXdB7ekoefE4QpjLHwtt-Cn1SyJ1V89iPh1ftNC_KPp74vgQ48bqLrxdgqJRSCOXGDMtK-MBsI6hOc\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">15-minute W\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/WUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Ethena Labs<\/strong><\/h2>\n<p>The popularity of Ethena Labs&#8217; governance tokens ENA is also linked to a recent airdrop. On April 2, the team behind the development of the <a href=\"https:\/\/forklog.com\/en\/news\/delta%e2%80%91neutral-synthetic-dollars-why-the-usde-stablecoin-matters\">\u201csynthetic stablecoin\u201d<\/a> USDe opened the claim for 750 million coins.<\/p>\n<p>Santiment explained the inclusion of ENA in the list due to the rise in its price and other metrics.<\/p>\n<p>The asset has been listed on most popular centralized exchanges. ENA&#8217;s market capitalization <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethena\">exceeded $1.6 billion<\/a> with a trading volume of $3.1 billion.<\/p>\n<p>Since its launch, the asset has doubled in value \u2014 from approximately $0.55 to $1.11.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/yYxSsmtmDQ8ubNmALHA1GR6ZKtTdXdyUvKkB_CCD-011SyP3SiPetyV0urwtmLUVnjNLnonKszoTlaSGyxJxl6XkUyPmEboZXqFCrfswSZMo0PZMu3Us6gZwR3Pjtjgx0IXPr9hprzP6j7UflJ57Yvs\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">15-minute ENA\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/ENAUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>However, the launch of this project was not without controversy. On-chain investigator TardFiWhale expressed concerns about structural weaknesses in Ethena Labs&#8217; USDe and demanded $1 million for disclosing a vulnerability.<\/p>\n<p>According to him, many influencers promoting the project, such as former BitMEX CEO Arthur Hayes, are silent about the serious shortcomings and risks of the \u201csynthetic stablecoin.\u201d<\/p>\n<h2 class=\"wp-block-heading\"><strong>Waves<\/strong><\/h2>\n<p>The last in Santiment&#8217;s ranking is the WAVES token from the Waves Platform team. The asset is gaining popularity as developers <a href=\"https:\/\/forum.power.tech\/t\/proposal-to-invest-xtn-treasury-funds-into-the-waves-index-wind-pool\/287\">proposed<\/a> using the Neutrino Index (XTN) stablecoin treasury reserves to invest in the WavesIndex (WIND) pool, purchasing tokens with WAVES from Neutrino reserves.<\/p>\n<p>Over the past seven days, the asset has fallen by 22% and is currently trading at $3. Its market capitalization <a href=\"https:\/\/www.coingecko.com\/en\/coins\/waves\">stands at $300 million<\/a>, with a daily trading volume of $118 million.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/PDaqZORt45W1PCprAeIHRGjOfWNSqbC104gfubPqnGdPvTvk6Ay3pOYhT4IbG-MNu-w0hZBrO0J_XlpyNi5egRT2GSt5QpJNmZNZk9Ihtj6a66odOs6I_efHSv9XqPYR5BcPXyNboJVz45ipXp8Eh-0\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">15-minute WAVES\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/WAVESUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>It remains unclear why analysts included WAVES in the list. Recently, the project has been surrounded by a predominantly negative narrative. In August 2022, the stablecoin USDN, later renamed XTN, lost its peg to the US dollar.<\/p>\n<p>In April 2023, the Ukrainian exchange Kuna delisted WAVES due to the \u201cproject&#8217;s ties with Russian oligarchs.\u201d<\/p>\n<p>Additionally, Binance <a href=\"https:\/\/www.binance.com\/en\/trade\/WAVES_USDT?type=spot\">tagged the token<\/a> with a \u201cmonitoring\u201d label, indicating higher risk and volatility compared to other assets.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Other Trends<\/strong><\/h2>\n<p>The strongest trend over the past week has been L3 solutions. The segment&#8217;s index rose by 110%, with its total capitalization reaching $1.23 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/MopRPKZJAC1s-_68bmo0PQY5D6kO4l694aINCnovE-U8y8VBHSHVLOABSFYhFNo78ZrNlFA_uhJ6rkw80fGT5HEkBelsBKJ7CX0i17FXbIzO3zhWZUqowj93CWw__CYjvngYKKX49_ug1ThsCtDFTzM\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>The local leader in growth was the meme token Degen (DEGEN). Over the week, the asset <a href=\"https:\/\/www.coingecko.com\/en\/coins\/degen-base\">increased by 140%<\/a>, reaching a capitalization of $542 million.<\/p>\n<p>The second was the token of the decentralized NFT marketplace Aavegotchi (GHST), which <a href=\"https:\/\/www.coingecko.com\/en\/coins\/aavegotchi\">rose by 92%<\/a>.<\/p>\n<p>Another popular category is meme tokens based on the L2 network Base. Their combined index rose by 51%, with a capitalization exceeding $1.55 billion.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/quXD6N8fCzG5BaXi0UgY0ap30gzoPcokABTYmk9vD30s2dcLU-cjqMlJPcZmEX1BmMAL0xu_75bwnJ15EiNKtG8SWTOUNBU0v2exXM0hUBBCnc5f-dt7151V25Zssd9CFvuRB0oinjgxirZQ2CVGws0\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>Their popularity is mainly linked to parody coins of celebrities. One such asset, Coinye West (COINYE), <a href=\"https:\/\/www.coingecko.com\/en\/coins\/coinye-west\">increased by 230%<\/a> over seven days.<\/p>\n<p>LSD tokens also show positive dynamics \u2014 the category&#8217;s index rose by 15%.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/HakCfGgb8OSFhZYQrRzWn12MkZTNY0W8t9imBVp4N9rq0OtPV85MUbjvop2RGsyTfBxQ-Dwk1KXjLEGiZ98hnaJof6y8AhYbdEgTdqKrUzsnjRGiy9IRTx44aRF1i6NpYapN-xgrto6iZfRLsr-ewls\" alt=\"\u0412 Santiment \u043e\u043f\u0440\u0435\u0434\u0435\u043b\u0438\u043b\u0438 \u0441\u0430\u043c\u044b\u0435 \u043f\u043e\u043f\u0443\u043b\u044f\u0440\u043d\u044b\u0435 \u0442\u043e\u043a\u0435\u043d\u044b\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>Among individual coins, Bitcoin Cash stands out, having <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin-cash\">risen by 15%<\/a> following the recent halving in the network. Alongside it, Litecoin (LTC) increased <a href=\"https:\/\/www.coingecko.com\/en\/coins\/litecoin\">by 5.5% over the week<\/a>.<\/p>\n<p>In late March, tokenized real-world assets began to gain popularity. The total capitalization of the sector <a href=\"https:\/\/forklog.com\/en\/news\/rwa-tokens-surge-81-in-a-week\">increased by 81% over seven days<\/a> to $8 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Santiment has identified Wormhole (W), Ethena Labs (ENA), and Waves (WAVES) as the most popular tokens currently, reflecting market sentiment and sparking discussions. ? The following assets sit atop the top trending list of #crypto assets that are driving market discussions and sentiment: 1\u20e3?@wormhole $W: Trending due to the Wormhole Token Generation Event (TGE) and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1150,1478,596,839],"class_list":["post-12280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-news-plus","tag-santiment","tag-tokens","tag-trends"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12280"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12280\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12279"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}