Matrixport: The market's interest in SOL and BTC is rising, while ETH and Meme are still in a slump
According to the latest report released by Matrixport, Google search trends show that market interest in Solana and Bitcoin is on the rise, while Ethereum and memecoin remain sluggish, close to historical lows. Notably, since TRUMP went live, the issuance and trading activity of memecoin has dropped significantly. Google trend data further confirms this point, indicating extremely low overall market attention.
Historically speaking, a sharp decline in search popularity often correlates highly with a deep price correction. This is exactly what's happening with TRUMP right now as it plummeted 82% from its peak value. In a market lacking new interest catalysts, traders should focus their attention on assets where momentum is building up such as Solana and Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Western Digital rises over 7% at the open, Seagate Technology up more than 5%
Western Digital rose more than 7% at the opening, while Seagate Technology was up more than 5%. Both stocks fell over 10% in the previous trading session.
U.S. stocks movement: GDS shares surged on October 5th due to AI demand, order growth, and data centers.
Cerebras rises 10.8%; Altman previously called it a close partner of OpenAI
Cerebras' stock price rose by 10.8% after OpenAI CEO Altman stated that the company is a close partner of OpenAI.
Crypto prices
More
