Top 3 Most Trendy Altcoins Amid Price Surges and Airdrops
TL;DR
– Bittensor (TAO) is leading the crypto discussions with an 80% weekly surge, attracting attention with its impressive price rally.
– Hamster (HAM), a lesser-known altcoin, gained popularity after its airdrop controversy, causing frustration among users.
– Near Protocol (NEAR) ranked third in trending assets, experiencing a 30% price spike in a week, driven by both price gains and community engagement.
What Drives the Interest?
The crypto market has seen substantial price increases and captivating stories this week. While top cryptocurrencies like Bitcoin and Ethereum have been performing well, analytics platform Santiment reveals that Bittensor (TAO) is generating the most discussions. The AI-related blockchain protocol’s native token, TAO, has surged by 80% in the past week and 100% in the last 14 days.
Meanwhile, Hamster (HAM) has caught the attention of industry participants after promising a significant token distribution to its community through an airdrop. However, it was discovered that the majority of users were not eligible, leading to widespread frustration.
Near Protocol (NEAR) completes the top three list. The token’s price has increased by almost 30% in the last week, attracting more interest. Santiment attributes this heightened attention to the excitement surrounding the NEAR community and its activities. One such initiative is the Olympiad campaign, a promotional event offering rewards and competitions aimed at boosting community participation and engagement.
Is TAO Ready for Further Gains?
Many analysts have taken note of TAO’s significant price surge and anticipate further upside potential. One analyst predicts that TAO could enter the top 10 cryptocurrencies by 2024. However, skeptics point out the need to consider the emission rate of the token. If the circulating supply increases significantly without matching demand, it could negatively impact the price.
TAO’s current circulating supply is approximately 7.3 million tokens, with a maximum supply cap of 21 million, akin to Bitcoin.