The crypto market has started a recovery period in the last two weeks. However, today the market bled again as cryptocurrencies began to crash.
However, major cryptocurrencies like Bitcoin and Ethereum among others are still profitable and trading above their crucial price levels.
On the other hand, analytics firm, Santiment, claims that while Bitcoin, Ethereum, and other altcoins such as ApeCoin (APE), Fantom (FTM), and Ethereum Classic (ETC) have increased in price, their mentions on social media have increased. reduced.
According to Santiment, discussions about cryptocurrencies on social media platforms have subsided, suggesting that there is no fear of missing out (FOMO) among investors and traders.
According to the data, Bitcoin surged more than 12% last week after the asset rebounded to the $23,000 level. Similarly, altcoins such as Ethereum have seen an increase of over 33%, while ETC, APE, and FTM are up 69%, 39%, and 33%, respectively.
When there is no FOMO, discussions are reduced as people have nothing to fervently talk about. Could this indicate market stability?
Santiment claims that after July 13, when the price of Ethereum fell to around $1,000, the major stakeholder groups associated with the major altcoin changed their stance.
The analytics firm has also noted that there is a decrease in the balances of Ethereum holders who hold ETH between 1,000 and 10,000.
On the other hand, the firm also says that there is an increase in the balance of holders of 10 to 100 ETH, while holders of 100 to 1000 ETH are also adding their balances.
At press time, Ethereum is trading at $1,524, down 5.77% in the last 24 hours.
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