Positive sentiment forming toward Solana, Dogecoin, and Cardano, Santiment data reveals

Cryptocurrency market data and analytics platform Santiment has reported that social media engagements point to positive sentiment on Solana, Cardano, and Dogecoin. According to the analytics platform, Bitcoin, Ethereum, and XRP have a more neutral sentiment. 

The crypto market has had a rough start since the year started as market participants dread uncertainty in the incoming fiscal and economic stimulus from Trump’s administration. Things appear to have cooled off, and the market seems to have begun to rebound after the bleeding on 1st January. 

The meltdown, primarily caused by uncertainty in the U.S. economy due to changes in macroeconomic indicators, saw Bitcoin and Ethereum decline below $95k and $3,100, respectively.

Santiment data shows investors are positive on Solana, Dogecoin, and Cardano

🥳 With crypto coming to life again on Tuesday, commentary across social media reveals positive sentiment forming toward Solana, Dogecoin, and Cardano.

🤔 Meanwhile, things are much more polarized for top 3 assets Bitcoin, Ethereum, and XRP. pic.twitter.com/uGmuXyhpZB

— Santiment (@santimentfeed) January 14, 2025

New data from social media platforms compiled by Santiment revealed a neutral stance on the top three crypto assets and highlighted other crypto assets with the most positive outlook from investors worldwide.

According to Santiment, social media engagement portrayed a positive outlook on Solana, Dogecoin, and Cardano. Santiment reported that the three digital assets had more positive comments compared to negative ones.

According to CoinMarketCap, Solana currently ranks sixth among the top largest crypto assets by market capitalization. The digital asset has surged by 2.54% in the last day and its performance reflects the growing interest in the asset among crypto-savvy investors, in line with Santiment’s social media data. Solana is exchanging hands for $190.08 at the time of this writing and is still down 3% in the last seven days.

On the other hand, Dogecoin’s performance has also been notable. In the last 24 hours, the world’s largest memecoin by market cap surged by 4.94%, bringing its seven-day gain to 4.35%. 

Dogecoin’s recent performance was in line with the frenzy witnessed in the memecoin sector on January 14th, as previously reported by Cryptopolitan. Cardano currently trades at $1.05 after registering a 9.75% surge in the last 24 hours. The asset’s 24-hour gains brought its seven-day gain to 6.54%. 

Ethereum, Bitcoin, and XRP remain neutral among investors

In the meantime, Ethereum, Bitcoin, and XRP maintained a far more neutral stance when Santiment compiled the positive vs negative ratio of comments. On Monday, Bitcoin slid below $90k dropping by close to 7% since the beginning of the Asian session. The asset has since recovered and currently trades at $97,197 according to data from CoinMarketCap. 

Ethereum had shed 11% on Monday but made an almost equal recovery on Tuesday. The asset is trading at $3,231 at the time of writing this with a 1% gain in the last 24 hours and a 4% decline in the last seven days. 

XRP seems to be performing the best among the three assets listed as “neutral” by Santiment. The asset is up 12.05% in the last 24 hours, adding to its seven-day gain of 22.47%. XRP has a market capitalization of 163.7 billion, while Ethereum’s market cap is $389.5 billion. 

Stablecoin supply remains largely unchanged in the last 30 days

The trends witnessed in the crypto market indicate a slow start to the year compared to the general market outlook around the same time last year. From January to March last year, the crypto market was in a rally, pushing Bitcoin’s price to $69k from $38k. 

Glassnode’s recent data showed that during this time, stablecoin supply surged by 11.5% from $127.89 billion to $142.57 billion. The data also brought to light the fact that the global stablecoin supply has remained unchanged in the last 30 days sitting at around $189.1 billion. 

The capped stablecoin supply represents reduced liquidity and volatility in the markets, which ultimately portrays the ongoing uncertainty surrounding crypto assets. However, things may quickly change after January 20th, when Donald Trump is sworn in as president of the United States. Crypto investors continue to monitor Trump’s moves in the crypto industry as rumors of him signing a crypto-oriented executive order on his first day in office surf the internet.

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