These social narratives have been driving the crypto markets recently: data

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 intelligence and research 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 the upcoming volatility.

Social narratives affecting cryptography

A major issue that has significantly affected the community is the narrative surrounding crypto whales (large holders of bitcoin and other major cryptocurrencies). Santiment noted the massive influence whales have on crypto prices and how this has become a cause for concern in the industry.

Recent social media discussions on platforms such as X have revealed community fears about market manipulation among whales when prices close; however, this cohort of investors is ignored when prices start to rally.

Another hot topic has been regulatory concerns about bitcoin (BTC) mining and its environmental impact. These conversations have raised questions about the long-term sustainability of cryptography and the potential impact of global scrutiny on mining profitability.

Despite the negative sentiment and fears of strict regulations on these operations, the price of bitcoin has shown resilience; however, the asset remains prone to fluctuations resulting from changes in mining policy.

TON, NFT and Meme coins

In addition, The Open Network (TON) has been at the center of many discussions, with increased institutional investment and news of the arrest of Pavel Durov, the founder of Telegram, a social networking platform linked to the blockchain.

As institutional interest in TON continues to develop, Durov’s arrest raises concerns about Telegram’s role in the crypto space being significantly diminished. The social media platform has brought in millions of new users through its in-app play-to-win crypto games.

Although the market has adjusted to the fall that followed the news of Durov’s arrest, there are fears of further decreases in government interventions and possible sanctions on the platform’s activities.

It’s worth mentioning that the non-fungible token (NFT) sector is on the mend, especially since the US Securities and Exchange Commission served market leader OpenSea with a Wells notice. Crypto traders have been talking about the possibility of tighter regulations for the NFT sector.

In addition to the trending social narratives, there are conversations about AI-powered blockchains and smart contracts and the ever-present meme coin hype, which has intensified with the creation of new marketplaces like Pump .Fun, SunPump and EtherVista.

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