The post These Social Narratives Have Been Driving Crypto Markets Recently: Data appeared on BitcoinEthereumNews.com.

The crypto market responds to news, trends, and community discussions on various topics. Substantial knowledge of these narratives gives investors an edge and helps them make informed decisions that can protect their portfolios and investments in digital assets. Crypto research and intelligence platform Santiment has outlined some narratives that have shaped the market this year. According to the firm, the impact of these social narratives on crypto prices is still ongoing, and traders who understand their cyclical nature can better navigate upcoming volatility. Social Narratives Affecting Crypto A leading topic that has significantly impacted the community is the narrative around crypto whales (large holders of bitcoin and other top cryptocurrencies). Santiment noted the massive influence whales exert on crypto prices and how this has become a reason for concern in the industry. Recent social media discussions on platforms like X have revealed community fears about market manipulation among whales when prices tank; however, this cohort of investors is ignored when prices start to rally. Another hot topic has been regulatory concerns around bitcoin (BTC) mining and its environmental impact. These conversations have raised questions about the long-term sustainability of crypto and the potential impact of global scrutiny on mining profitability. Despite the negative sentiment and fears of strict regulations concerning these operations, bitcoin’s price has shown resilience; however, the asset remains prone to fluctuations stemming from mining policy changes. TON, NFTs, and Meme Coins Furthermore, The Open Network (TON) has been at the center of many discussions, with heightened institutional investment and news of the arrest of Pavel Durov, the founder of Telegram, a social media platform linked to the blockchain. As institutional interest in TON continues to develop, Durov’s arrest triggers concerns about Telegram’s role in the crypto space diminishing significantly. The social media platform has on-boarded millions of…

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Filed under: News - @ September 6, 2024 4:20 am