After weeks of memecoin mania, the crypto market is shifting its focus back to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other Layer-1 (L1) networks. According to data from Santiment, discussions around L1 protocols now make up 44.2% of crypto-related social conversations. This shift signals a potential return to a bull market, as traders prioritize projects with strong fundamentals over speculative assets.
Memecoin Craze Fades, L1 Networks Gain Attention
Analytical platform Santiment reports that Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE are losing momentum in crypto discussions. This shift is attributed to a decline in speculative trading, with investors turning their attention to more robust blockchain projects. The renewed focus on Bitcoin, Ethereum, and Toncoin highlights the growing preference for secure and innovative technologies.
Santiment’s analysis suggests that past memecoin rallies often preceded market corrections. However, this decline in speculative activity could indicate a healthier and more sustainable market, as overleveraged positions get eliminated.
Is a Bull Run on the Horizon?
Santiment’s projections suggest that the decline in memecoin speculation could pave the way for long-term growth in solid blockchain projects. Analysts predict that the ongoing correction may soon stabilize, setting the stage for a market rebound.
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At the time of writing, Bitcoin is trading at $98,186, marking a 1.45% increase in 24 hours. Meanwhile, Ethereum, Toncoin (TON), and Cardano (ADA) have also gained 2.79%, 15.12%, and 0.87%, respectively. While it remains uncertain whether a full-fledged bull run is imminent, Santiment believes the market is undergoing a healthy cooling-off phase.
Crypto ETFs Push Altcoins Into the Spotlight
Solana (SOL), XRP, and Litecoin (LTC) are also gaining traction, fueled by the increasing demand for spot crypto ETFs. As reported by The Bit Journal, Grayscale has filed for a Cardano ETF with the SEC, signaling a broader push for institutional adoption. Bloomberg’s Senior ETF Analyst forecasts high approval rates for Litecoin, Dogecoin, and Solana ETFs, hinting at a potential market recovery.
With the crypto landscape shifting towards Layer-1 protocols and institutional investment, traders are now focusing on projects with long-term viability rather than short-lived hype.
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