Cryptocurrency

Cardano

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The cryptocurrency sector gained a completely green outlook as the leading cryptocurrency, Bitcoin (BTC), resettled above $31,000. Numerous cryptocurrencies, including the leader, started to rise again, potentially heralding the long-awaited mini bull season. Naturally, BTC’s recovery from a six-month long decline plays a significant role in this development. But which altcoins could potentially take the foreground in such a mini-rally? 
<h2 style="text-align: justify" id="xrp-eth-ada-and-bnb-silently-progress">XRP, ETH, ADA, and BNB Silently Progress</h2> 
There are many ways to comprehend this, and social media dominance rate is one of them. Looking at the data published by Santiment, it is possible to spot a few cryptocurrencies that, although lagging behind BTC, are suppressing other altcoins. These can be named as Ethereum (ETH), Cardano (<a href="https://en.coin-turk.com/cardano-ada-clings-to-crucial-support-a-glimpse-into-the-future-price/" data-wpel-link="internal">ADA</a>), XRP, and <a href="https://en.coin-turk.com/binance-faces-rejection-in-the-west-amid-crypto-giants-shift/" data-wpel-link="internal">Binance</a> Coin (BNB) respectively. Although these altcoins are lagging behind BTC, they still emerge as the most prominent projects in terms of social media influence. 
<img decoding="async" class="aligncenter wp-image-88039 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/07/btc-3.png" alt="" width="1370" height="900" srcset="https://en.coin-turk.com/wp-content/uploads/2023/07/btc-3.png 1370w, https://en.coin-turk.com/wp-content/uploads/2023/07/btc-3-259x170.png 259w, https://en.coin-turk.com/wp-content/uploads/2023/07/btc-3-768x505.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/07/btc-3-1200x788.png 1200w" sizes="(max-width: 1370px) 100vw, 1370px"> 
Bitcoin’s social media dominance was at 23% as of June 28, while ETH was at 7.32%, Cardano at 1.53%, and XRP at 1.17%. Binance’s highly discussed cryptocurrency BNB is at the bottom with 0.64%. BTC’s price increase of 82% since the end of the year and its status as the leading cryptocurrency obviously shifts its social media impact. The upward trend that started for BTC a few days ago and the momentum that lasted over $31,000 also boosted its social media effect. Nevertheless, it is observed that the emerging altcoins have a much lower social media impact than the previous altcoin rally times. This reveals that a possible rally has not started yet. 
In the previous altcoin rallies that started with ETH, cryptocurrencies like ADA and XRP had followed them, and each had experienced their rallies. A similar situation is expected this time, and a significant rally could start with leading altcoins. The rates of social media impact indicate which ones have a higher probability to start it. 
The post <a rel="nofollow" href="https://en.coin-turk.com/cryptocurrency-sector-anticipates-mini-bull-season-as-bitcoin-climbs-over-31000/" data-wpel-link="internal">Cryptocurrency Sector Anticipates Mini Bull Season as Bitcoin Climbs Over $31,000</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Cryptocurrency Sector Anticipates Mini Bull Season as Bitcoin Climbs Over $31,000

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