Santiment, a market monitoring service and platform, shared with its followers a tweet on Twitter today stating that positive momentum for altcoins such as Bitcoin Cash (BCH), Chainlink (LINK), Maker DAO (MKR), and THORChain (RUNE) could continue until October. This prediction is based on the significant increases in market values of these tokens observed last week.
Will Altcoins Rise?
Upon examining Santiment’s data, the significant price increase of over 15% in the last seven days for LINK, among the four tokens, stood out. RUNE, with a price increase of 14%, followed LINK closely. BCH and MKR also experienced price increases of 13% throughout the past week.
In addition, following a 4.01% increase in price in the last 24 hours, LINK climbed to the 4th position on CoinMarketCap’s trending list. At the time of writing, the altcoin was valued at approximately $8.07, trading just below its highest price of $8.08 from the previous day.
However, LINK also experienced a decrease of over 22% in trading volume in the last 24 hours, resulting in a market value of approximately $246,411,575. In addition to its success last week, the cryptocurrency had also reflected a price increase of over 35% last month.
What About Other Altcoins While LINK Rises?
At the time of writing, RUNE was traded at $1.97, experiencing a price increase of 3.20% in the last day. This upward trend meant a gain of 2.41% for RUNE against the market leader Bitcoin (BTC).
Regarding trading volume, RUNE encountered a decrease of 11.07% in the last 24 hours. As a result, the token’s daily trading volume was approximately $62,777,369.
On the other hand, the situation may be unfavorable for BCH and MKR due to the decrease in their prices in the last 24 hours. BCH continued to trade at $234.84 after a decrease of 0.50%. However, when Santiment’s data was examined, it was observed that the cryptocurrency had an increase of over 13% in its weekly performance.
Similarly, MKR experienced a net loss of over 5% in the past day and continued to trade at $1,484.80. As a result, MKR remained close to its daily lowest price of $1,440.11.
