The assets from NFT and DeFi sector are still rewarding investors, and there is no sign of slowing down yet. The latest report by Santiment shows that the latest ATH in the Bitcoin chart hasn’t affected the DeFi and NFT sector, and investors still believe in projects in those groups, too.
Another interesting sign came from the meme coins and derivative data that shows the interest of the crowd in the market. The volume and the price of famous meme coins are on the rise, and the coins are rewarding the holders very well.
The overall stat of the market shows that the investors are interested in most of the sectors in the market. In the Bitcoin blockchain, we see address activity on a rising trend. Besides, whales are still accumulating the coin that shows they’re confident about the continuation of the trend on the Bitcoin chart.
According to the data, in Bitcoin addresses that hold 100 to 10,000 BTC, the accumulated amount is still rising. These groups of whales currently hold 49.49% of Bitcoin’s supply that is the largest held amount in 8 years.
As mentioned above, the meme coin group has shown interesting stats in the past weeks, too. It doesn’t matter what experts and critics think about these kinds of coins because many users are now interested in them, and the prices are surging significantly.
An important metric about these coins is that when volume and social dominance go higher than a level, we can expect price corrections.
Almost all experts believe that price surges in meme coins are because of hype around them. No serious development backs them, but the crowd hypes them, affecting the prices. We should wait and see when the hype around these coins cools down in the future.
Other good returns happened in the DeFi and NFT sectors in the past week. Led by Ethverse and Chain-guardians, the top weekly gainers in the NFT sector had up to 58% returns. Experts believe that many NFT projects have the opportunity to reward the investors considerably, and traders should consider them in their portfolios as well.
In the DeFi sector, big players like Luna, Thorchain, Curve, and Safemoon had a good week, with their investors being confident about more rewards in the coming days. The top gainers of this sector rewarded their holders up to 124%.
It seems the overall market has had good days since the new ATH in the Bitcoin chart. But there are still many traders not sure about the future of the market. Some think Bitcoin will show new ATHs even up to $300K, while others believe some corrections may happen soon.
