The post Solana’s Market Sentiment Surges To Highest Level In 9 Months, What’s Driving It? appeared on BitcoinEthereumNews.com.

Solana is currently in the spotlight, drawing stark attention from the general cryptocurrency market as the positive sentiment around the digital asset has experienced a significant upswing, solidifying its position in the industry as a leading asset. Solana’s Positive Sentiment Hits New Level Leading on-chain data analytics firm, Santiment has reported that the positive sentiment around Solana is gaining traction, surging to new levels due to renewed investors’ confidence and a wave of optimistic developments within its ecosystem. The platform took to the social media platform X (formerly Twitter) to share the advancement with the crypto community, triggering discussions about its impact on the digital asset. According to the platform, this surge in enthusiasm among SOL traders and investors marks the highest level in nine months. Santiment pointed out that there are presently about 5.6 positive posts for every 1 bearish post across several major social media platforms like X, Reddit, Telegram, 4Chan, and BitcoinTalk. Santiment initially spotted the sudden rise in market attitude around SOL on Friday last week. “As the vast majority of crypto has enjoyed Friday gains, SOL stands out as an asset seeing a major spike in bullish crowd sentiment,” Santiment stated. Solana’s positive sentiment hits 9-month high | Source: Santiment on X Specifically, the recent substantial upswing is attributed to “very loose rumors” that Apple might be building on the Solana blockchain, causing a huge hype train for the crypto asset. While SOL has drawn significant attention from the public, the market sentiment around other major digital assets, such as Bitcoin (BTC) and Ethereum (ETH), has remained neutral, suggesting that investors might be more bullish about SOL’s potential in the short term. Furthermore, the widespread rumor may have impacted the SOL community positively, but there is still a risk since there is no official confirmation yet about the potential…

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Filed under: News - @ October 14, 2024 4:27 pm