Crypto could be headed into a healthier market cycle as interest in memecoins wanes and attention shifts back to Bitcoin, Ether and other layer-1 altcoins, according to onchain analytics platform Santiment.<\/p>\n
Santiment\u2019s social sentiment tracker shows that top layer-1 blockchains<\/a> such as Ether (ETH<\/a>), Solana (SOL<\/a>), Toncoin (TON<\/a>) and Cardano (ADA<\/a>) are dominating 44.2% of discussions among specific coins, while the top six memecoins are only getting 4% of the discussion on social media, the platform said<\/a> in a Feb. 10 post to X.<\/p>\n The shift in focus away could signify a \u201cmore stable and sustainable market environment\u201d because Bitcoin (BTC<\/a>) and layer 1 networks represent the foundational infrastructure of the crypto space, it said, adding: <\/p>\n \u201cIncreased focus on these assets usually reflects a more mature and informed approach by the community, which prioritizes security, innovation, and real-world adoption.\u201d<\/p><\/blockquote>\n \u201cLayer-1 blockchains support smart contracts, decentralized applications, and network scalability \u2014 key drivers of long-term growth in the industry,\u201d it said. <\/p>\n Traders are talking about Bitcoin and altcoins more than memecoins lately. Source: <\/em>Santiment<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n The tracker also found memecoins such as Dogecoin (DOGE<\/a>), Shiba Inu (SHIB<\/a>) and Pepe (PEPE<\/a>) are being talked about \u201cless and less across social media,\u201d with Santiment speculating the drop could be due to recent volatility<\/a>.<\/p>\n The social sentiment tracker trawls through crypto-specific social media channels such as X and Telegram for the top 10 words that have seen the most significant increase in social media mentions compared to the previous two weeks, according<\/a> to its methodology.<\/p>\n Santiment said cycles dominated by memecoins typically signal a phase where traders are chasing short-term gains and precede market corrections as hype fades.\u00a0<\/p>\n Memecoin activity flourished after the launch of US President Donald Trump\u2019s memecoin<\/a>, with Pump.fun usage recording an all-time high<\/a> of $3.3 billion in weekly trading volume.<\/p>\n Meanwhile, in a Feb. 11 update<\/a> to X, Santiment said 224,410 Ether exited exchanges between Feb. 8 and Feb. 9, the most significant movement of known exchange wallets<\/a> in a single day in the last two years.<\/p>\n \u201cThough more of a long-term metric, this is a strong sign for Ethereum’s struggling price,\u201d Santiment said, as it signals long-term confidence by investors.<\/p>\n Source: <\/em>Santiment<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n On the other hand, Crypto Dan said in a recent Quicktake market update<\/a> that 14,000 Bitcoin that had been inactive for the last seven to 10 years moved throughout Feb. 10.\u00a0<\/p>\n Related: <\/strong><\/em>Most sell risk since 3AC collapse: 5 things to know in Bitcoin this week<\/strong><\/em><\/a><\/p>\n \u201cDespite the large volume, these coins have not been transferred to any exchanges, suggesting that they are not intended for immediate sale,\u201d said Crypto Dan, a contributor to the onchain analytics platform CryptoQuant.<\/p>\n \u201cThis kind of movement does not necessarily mean that Bitcoin\u2019s price will drop. In the past, similar cases have occurred, but they did not always lead to a price decline.\u201d<\/p>\n However, he did note that the average acquisition price of these coins is relatively low, which could influence the holders\u2019 \u201cfuture decisions regarding potential sales.\u201d<\/p>\n Magazine: <\/strong><\/em>Trump\u2019s crypto ventures raise conflict of interest, insider trading questions<\/strong><\/em><\/a><\/p>\nBitcoins Millions worth of Bitcoin and Ether on the move\u00a0<\/strong><\/h2>\n