Bitcoin & Top Altcoins Are Drawing More Attention Than Memecoins, Santiment Reports

Highlights:

• The crypto focus has shifted to Bitcoin and layer-1 blockchains, reducing memecoin chatter.
• Santiment explains that memecoin hype clearly reflects pure greed, not real market value.
• Large on-chain moves in Ethereum and Bitcoin show very strong investor confidence.

After weeks of memecoin dominance, the crypto community is refocusing on Bitcoin (BTC) and other layer-1 assets like Ethereum (ETH), Solana (SOL), Toncoin (TON), and Cardano (ADA), according to on-chain analytics platform Santiment. The social sentiment tracker shows that top layer-1 blockchains dominate 44.2% of discussions among specific coins, while the top six memecoins are only getting 4% of the discussion on social media.

The social sentiment tracker scans crypto-focused platforms like X and Telegram, identifying the top 10 words with the highest increase in mentions over the past two weeks. Santiment attributed this shift to recent volatility, which reduced the dominance of speculative altcoins. The analytics firm emphasized that Bitcoin and Layer-1 networks are the core infrastructure of the crypto industry. 

Santiment considers this shift in trader focus a positive sign, indicating a more stable and sustainable market environment. The recent memecoin frenzy was driven by the launch of the TRUMP memecoin in mid-January. Despite having no utility, it skyrocketed to $73 before plummeting 78% to around $16 within three weeks.

Santiment explained that memecoins depend on hype, viral trends, and speculation rather than the actual value. This trend often signals excessive greed, where traders seek quick profits without considering long-term growth and stability.

Santiment added:

“Increased focus on these assets usually reflects a more mature and informed approach by the community, which prioritizes security, innovation, and real-world adoption. Layer-1 blockchains support smart contracts, decentralized applications, and network scalability — key drivers of long-term growth in the industry.”

Declining Memecoins Hype Signals End of Speculative Mania

Santiment concluded that this positive sentiment shift fosters a more balanced market, lowering the risk of “speculative mania.” The decline in memecoin discussions suggests the market is experiencing a “healthy cool-down” phase. This prediction supports analysts’ expectations that altcoin selling will soon end, leading to a strong rebound.

😀 The crypto community has largely shifted their attention to Bitcoin and other Layer 1 assets like Ethereum, Solana, Toncoin, and Cardano. Collectively, the top Layer 1 assets are getting 44.2% of discussions among specific coins. Meanwhile, top meme coins like Dogecoin, Shiba… pic.twitter.com/PpBjD9vSi4

— Santiment (@santimentfeed) February 10, 2025

At the time of writing, Bitcoin was trading at $98,299, up 0.49% in the past 24 hours. The positive sentiment has also extended to Ethereum, Toncoin, and Cardano, which have risen 2.45%, 1.96%, and 14.22% to $2,711, $3.90, and $0.8042, respectively. Crypto markets are showing slight signs of recovery today, with total market capitalization rising modestly to $3.24 trillion.

Ethereum and Bitcoin See Major On-Chain Movements

Santiment reported on Feb. 11 that 224,410 Ether left exchanges between Feb. 8 and Feb. 9—the largest single-day movement from known exchange wallets in two years. While a long-term indicator, this suggests strong investor confidence in Ethereum despite its struggling price, Santiment noted.

Crypto Dan noted in a recent Quicktake update that 14,000 Bitcoins, untouched for 7 to 10 years, became active on February 10. Despite the significant movement, none were sent to exchanges, indicating no immediate selling intent, according to the CryptoQuant contributor.