Top 3 Cryptos Seeing ‘Abnormally’ High Interest Levels: Details

TL;DR

Bitcoin (BTC) leads trader interest due to ‘Uptober’ optimism and increased institutional attention, followed by meme coin Neiro (NEIRO) hitting an all-time high. Third place goes to the native token of a popular cryptocurrency exchange, whose price briefly fell into the double digits on October 7. Here are the leaders

According to the crypto analytics platform, Bitcoin (BTC) was the cryptocurrency that saw the “abnormally high level” of interest from traders earlier in the week. The leading digital asset topped discussions on social media due to continued optimism among community members and analysts that “Uptober” will deliver a potential breakout.

“There is also growing institutional interest in Bitcoin, especially with the anticipation of more spot ETFs,” the entity added.

BTC experienced enhanced volatility last week, dropping to $60,000 in early October and then rallying to nearly $64,000. It is currently trading around $62,500 (according to CoinGecko data). Serious ups and downs could be another topic of discussion.

BTC Price, Source: CoinGecko

The second most talked about cryptocurrency is the viral meme coin Neiro (NEIRO). Its price hit an all-time high on October 7, while its market capitalization approached $800 million. Currently, NEIRO is the ninth largest meme coin, a significant achievement for an asset that saw the light of day approximately two months ago.

According to Santiment, whales have recently entered their ecosystem by exchanging PEPE tokens, indicating “growing interest and investment.”

And third place goes to…

Bitget’s native token – BGB – rounded out the top 3 list. Most of the discussions surrounding the token were related to its double-digit price collapse on October 7th.

As reported by CryptoPotato, the incident saw the valuation crash from $1.14 to $0.64 before entering a recovery mode.

The exchange said the “unexpected volatility” was due to “market conditions”. It also promised to fully compensate users for any lost assets and complete the process as soon as this week.

“Bitget always prioritizes the safety of users’ assets, and we will continue to optimize margin position levels, risk management measures and settlement mechanisms to ensure a safer and more stable trading environment for you. We apologize for any inconvenience caused “, concluded the firm.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!