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The market intelligence platform, Santiment, shared an X post earlier today predicting that the positive momentum for altcoins like Bitcoin Cash (BCH), Chainlink (LINK), Maker DAO (MKR) and THORChain (RUNE) could continue into the month of October. The prediction was based on the fact that these tokens saw noticeable market cap raises in the past week.
📈 #BitcoinCash (+13%), #Chainlink (+15%), #Maker (+13%), and #THORChain (+14%) are notables that saw double digit market cap rises during a positive week for #crypto. We are seeing accumulation from big $BTC & $USDT wallets, indicating this rally can continue into October. pic.twitter.com/SyeZEndoZv
— Santiment (@santimentfeed) September 30, 2023
Additionally, Santiment’s data indicated that out of the 4 tokens, LINK experienced the largest price increase of more than 15% over the past seven days of trading. RUNE was right on LINK’s heels with its 14+% price rise. Both BCH and MKR experienced 13+% price increases in the past week.
Meanwhile, LINK was able to claim the 4th spot on CoinMarketCap’s trending list after its price rose by 4.01% in the past 24 hours. At press time, the altcoin was worth about $8.07, which meant that it was trading right below its peak price for the past day of $8.08.
However, LINK did see a more than 22% decline in its 24 hour trading volume, which settled at around $246,411,575. Along with its success over the past week, the cryptocurrency was able to secure a price increase of over 35% in the past month as well.
At press time, the trading price of RUNE was $1.97, showing a 3.20% increase over the past day. This uptrend has led to a 2.41% gain for RUNE against the market leader, Bitcoin (BTC).
Regarding its trading volume, RUNE saw an 11.07% decline in the past 24 hours. Consequently, the token’s intraday trading volume amounted to around $62,777,369.
On the other hand, things might be taking a negative turn for BCH and MKR as both altcoins saw their prices drop over the past 24 hours. BCH was trading hands at $234.84 after its price slipped by 0.50%. The cryptocurrency’s weekly performance was still, however, up by more than 13% as indicated by Santiment’s data.
Similarly, MKR suffered a loss of more than 5% in the past day, which left it trading at $1,484.80. As a result, MKR was trading close to its daily low price of $1,440.11.
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