Sub-$500 Million Altcoin Dominates Crypto Discussion Following 573% Surge
In an interesting turn of events, one altcoin has seemingly come out of nowhere to dominate the discussions around crypto over the last week. Loom Network, with its native token LOOM, has barreled ahead of the likes of Bitcoin in this metric.
Loom Network (LOOM) Takes The Spotlight
In an X (formerly Twitter) post on Friday, October 13, on-chain data tracker Santiment revealed that a little-known altcoin has been dominating crypto discussions on social media. According to the image shared by Santiment, LOOM is currently leading the list of trending tokens in the last day.
The discussions have been driven by the altcoin’s incredible performance over the last month. While most of the crypto market has succumbed to the bearish pressures over this time, LOOM put up a significant rally that saw its price rise by over 570%.
LOOM dominates discussions | Source: Santiment on X
At the start of September, the LOOM price was trending in a tight range of $0.038-$0.039. But as the month drew to a close, the altcoin went on what can be described as a mostly up-only rally. Save for a number of dips and stops, the altcoin shot through resistance after resistance.
On Friday morning, the LOOM price was sitting at $0.268, translating to a 573% increase. Likewise, its daily trading volume surged as well, and as of the time of this writing, it’s up almost 208% to be sitting at $650.8 million.
LOOM price rises over 500% | Source: LOOMUSDT on Tradingview.com
What Crypto Discussions Revolve Around
Besides the Loom Network (LOOM) breakout, the other crypto discussions have understandably revolved around the likes of Bitcoin and Dogecoin. Coming in behind LOOM is the Bitcoin keyword which has been mostly in relation to Alameda Research ex-CEO Caroline Ellison testifying that Sam Bankman-Fried plotted to keep the digital asset’s price below $20,000.
Moving forward is Kaspa Network (KAS) coming in third place. has been making its way to the forefront of crypto after seeing a massive rally over the course of 2023. Then following this are discussions around the USDR de-peg that occurred earlier this week.
Interestingly, Dogecoin (DOGE) the leading meme coin in the space, comes out at 9th position on the list, mainly involving discussions around the meme coin’s founder. AZERO, CRO, FRAX, and XCN are also crypto keywords that have been receiving a lot of mentions lately.
As for Loom Network, its LOOM token continues to dominate, emerging as the top gainer in the last 24 hours. Its price is currently $0.26, up 25% in the last 24 hours and 516% in the last 30 days, according to data from CoinMarketCap.
Featured image from Kalkine Media, chart from Tradingview.com
