CryptoMode Weekly Altcoins to Watch DeFi

When the Bitcoin price goes down, it becomes increasingly difficult for altcoins to show positive signs. Thankfully, there is always some social dominance and bullish sentiment to go around.The following five altcoins are all worth keeping an eye on, at least in the coming days. 

Elrond (ERD)

It is evident that Elrond will make a big impact on the blockchain industry. With plenty of trading volume to go around, it is one of the top altcoins that won’t struggle for liquidity anytime soon. Moreover, it seems as if many projects are paying close attention to what Elrond is bringing to the table.

That in itself should be sufficient to warrant bullish momentum.  Gauging by the social volume, things are picking up for ERD as well. Elrond represents 8.87% of all social discussions pertaining to cryptocurrency right now. With a bullish sentiment of 20.145, it is certainly getting a lot of attention right now. 

Ethereum (ETH)

The year 2020 can prove crucial for Ethereum in different ways. Its long awaited introduction of proof-of-sake – under the Ethereum 2,0 banner – will – normally speaking – go live later this year. It has been pushed back a few times, however. Moreover, the testnet for Ethereum 2.0 still requires a fair bit of fine tuning to make it fully useful. 

Keeping all of this in mind, it is only normal to see Ethereum generate a lot of social buzz. Its social volume is rising quickly, and currently represents 6.67% of all discussions. Its bullish sentiment sits at 12,831, indicating that most people expected a big uptrend fairly soon. Whether that will even happen, is a different matter altogether.

ChainLink (LINK)

No one is surprised to see ChainLink dominate the charts in any capacity. It has become a very dominant project as far as its market cap is concerned. The ongoing integration of Chainlink’s decentralized oracles will certainly shake things up for the better. A few days ago, a crypto exchange decided to integrate these oracles for pricing information.

Looking at other metrics, ChainLink remains a significant topic of discussion. Its social volume has overtaken Ethereum, as has its social dominance. However, the bullish sentiment is slightly lower compared to Ethereum, which is rather interesting. LINK Recently overtook Bitcoin Cash in market cap, thus it will be interesting to see what happens next. 

XRP (XRP)

While a lot of people enjoy bashing Ripple and its XRP asset on social media, the project remains ever popular. Its market cap might not reflect this optimistic outlook, but that can always change. Ripple’s technology has proven to be of great value to a lot of companies and service providers in recent years. While they might not all use XRP for their services, it remains a possible option for the future. 

Examining the statistics by LunarCRUSH, XRP remains subject to significant bullish sentiment. Currently ranked in 5th place with 3.243, there are a lot of people who expect bigger and better things. XRP’s social volume is also on the rise lately, and its social dominance sits at 1.5%. Very interesting to keep an eye on, albeit no one can predict what will happen.

Cardano (ADA)

There are a lot of people who have high expectations for Cardano. Its recent switch to proof-of-stake has garnered a lot of attention. So far, this change has gone off without a hitch, indicating that the upgrade is working as intended. Beyond the switch to staking, Cardano remains a project with ample overall potential waiting to be unlocked. 

According to the social statistics, Cardano is part of 1.48% of all social discussions related to crypto and altcoins. It notes a bullish sentiment of 2.225, and its overall social volume is moving up quickly. This is a common trend among altcoins, it seems. Even when the Bitcoin price is going down, there are plenty of people who expect big things for alternative assets. This week may prove rather interesting in this regard. 


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