In the LunarCrush AltRank report, the company unveils a new list of the most successful cryptocurrencies according to price action and social promotion.
Ethereum leads the pack with Bitcoin in tow, followed by the newer altcoins, such as Injective, Hype, Qubic, and Plume. The mix of the recently established market leaders and many rising blockchain projects is well reflected in this week’s ranking, which conveys the changing trends behind investor focus.
Ethereum Leads the Pack in Latest LunarCrush AltRank
In the recent AltRank update by LunarCrush, Ethereum (ETH) has taken the lead. The ranking compares altcoin performance with that of Bitcoin and ranks them based on all of the market-wide price action and social activity signals.
This good market position indicates the growing dominance of ETH in DeFi, NFT, and the blockchain industry as a whole.
A recent update to the scalability and lower transaction fees of Ethereum has further increased its use, thus making it the major platform in the industry of smart contracts.
Bitcoin Maintains Strength Amid Market Volatility
Bitcoin (BTC) continues to be a central pillar in the latest ranking this week.
Although its rank in the Altrank is not only dependent on how stable its prices are, but also on social activity, BTC still attracts long-term investors and institutions. Sentiment has not been dampened by recent market fluctuations, with the safe-haven Bitcoin story intact.
Injective and Hype Gain Momentum in Social Engagement
Injective (INJ) has recorded a significant rise in the ranking due to its increased ecosystem of decentralized finance use cases and ultra-fast trading facility. The interoperability capabilities and developer incentives is catching the eye.
In the meantime, at fourth rank, Hyperliquide (HYPE) has exploded on social media, as the community-led campaigns have increased. Gamified DeFi and flashy branding have allowed HYPE to win the attention of the community, leading to high engagement levels and soaring prices.
Qubic, Plume, and Verasity Stand Out for Utility and Adoption
Qubic (QUBIC) has taken its 5th place in the LunarCrush report, thanks to its original AI-enhanced blockchain solution. It is popular with AI-based decentralized apps due to its powerful processing.
The lesser-known and fast-growing network, Plume (PLUME), has also claimed its place in the list due to its focus on sustainable blockchain solutions and an eco-focused validating mechanism.
Verasity (VRA) remains a potential candidate at 7th rank on the LunarCrush report, especially regarding ad technology based on blockchain and esports live streaming, where it is still growing in popularity due to collaborations and platform developments.
NEAR, Polygon, and Sei Complete the Top Ten Rankings
NEAR Protocol (NEAR) has maintained its upward trajectory due to the simplicity of its developer tools and the scalability of its blockchain. The user-friendliness of the platform and its emphasis on making Web3 not only accessible to all developers have captured mainstream brands as well.
Polygon (POL) is currently one of the most popular Ethereum scaling solutions, with partnerships with large firmware platforms and gaming projects.
The last top-ten participant in the LunarCrush report is Sei (SEI), a rapidly emerging Layer 1 blockchain oriented toward decentralized trading. Its ultra-low latency in executing transactions makes it a force to reckon with in the DeFi trading environment.
