Recent data shows declining interest in memecoins, while attention towards Layer-1 altcoins like Ethereum and Solana rises.
Layer-1 Altcoins Dominate
Data from analytics platform Santiment indicates that Layer-1 altcoins such as Ethereum, Solana, Toncoin, and Cardano account for 44.2% of social media discussions compared to 4% for memecoins. This reflects increased interest in foundational blockchain technologies.
Long-Term Investor Confidence
According to the Santiment report, 224,410 Ether, valued at approximately $600 million, was withdrawn from major exchanges between February 8 and 9. This indicates a move towards long-term storage of crypto assets.
Memecoin Activity
Memecoin activity surged following the launch of former U.S. President Donald Trump’s memecoin. However, the ongoing decline in interest could indicate a more mature market.
The shift in focus from speculative memecoins to more sustainable Layer-1 altcoins may indicate the maturity and stability of the cryptocurrency market.
