Similar to stock markets, the cryptocurrency industry has “junior caps” to keep an eye on. In this particular case, it refers to altcoins with under $100 million in reported daily trading volume. Statistics based on social dominance are provided by Charly M.
As more time progresses, the cryptoverse is waking up to the potential provided by DigiByte. Based on its social dominance last week, it made the top 5 among junior caps every single day. A very impressive streak, and one that may not come to an end just yet.
Checking the social statistics, it is evident that things are evolving rapidly. While there is a drop in social engagement, social dominance, and bullish sentiment in the past seven days, everything else is in the green. More contributors, volume, and news volume all confirm that DigiByte is more relevant than ever.
Over the past few days, the social presence of Zilliqa has exploded. Some of it can be attributed to TikTok creators, although other things are going on behind the scenes as well. Its ranking among the top 5 junior caps is deserved, as its has a solid presence in daily social dominance more often than not.
Glancing at the overall social trends, everything but social engagement is in the green for the past week. This engagement remains very high, despite the 0.9% decline, Continuing the momentum will be the next order of business. Achieving that goal will pose challenges, but now is the time to strike.
Seeing all of these projects show up is very interesting in this day and age. ICON has been around for a little while now, and the blockchain network is gaining more recognition globally. Its high-performance blockchain engine can be of great interest to a lot of companies, but also governments and other parties. It remains a junior cap project, but that situation can change very quickly.
Social sentiment-wise, ICON is doing a very good job. Its social engagement and bullish sentiment have all tapered off a bit, but there is no reason for concern just yet. Social volume, contributors, and shared links all noted very strong gain. Based on some upcoming developments, this trend will likely carry over to this week.
Another junior cap that is quickly climbing the social dominance ranks. Nimiq’s browser-based blockchain and ecosystem is getting a lot of attention. In terms of making cryptocurrency more accessible, this particular project certainly has a lot of potential to live up to.
Dominating the social space will certainly help bring more attention to Nimiq. Its social volume, bullish sentiment, contributors, and overall dominance has degraded slightly in the past few days. However, the overall engagement sits above 7 million, which is the number to keep an eye on.
Since last week, it appears that Elrond is gaining a lot more social volume. That type of momentum is invaluable for any junior cap project. The team’s focus on a high throughput and Adaptive State Sharding are certainly turning a lot of heads.
Gaining social traction can often be challenging. Elrond has done well for itself, although the bullish sentiment, social contributors, shared links, and social dominance are all down a tad. With more social volume and engagement, this project will remain an actively discussed topic for some time to come.
The Junior Cap Dark Horses
Week by week, we will compare the statistics of these junior caps. For now, there are three “dark horses” in last week’s rankings. Although they did not generate a lingering social dominance, they made it in the top 5 at least twice in seven days. That in itself is rather impressive, and makes all three worth keeping tabs on.
Those projects are Travala, Matic, and Kyber. All three have active social engagement on Twitter and Reddit, but they have not made it to the “next level” in terms of social dominance just yet. Next week, that situation may look very different, for all one knows.