Blockchain analytics platform Santiment suggests that Bitcoin (BTC) has been relatively stagnant compared to the recent surge in the stock market.
As the US government resolves the debt ceiling issue, Santiment notes that the stock market has reached its highest level in approximately 10 months.
While Bitcoin has lagged behind the strong performance of the S&P 500 in recent times, the analytics firm believes that BTC could soon follow suit.
With the US House passing a crucial debt ceiling deal, launching the S&P 500 to its highest price since August, altcoins like LTC, LEO, and FGC have seen significant gains. Santiment predicts that there may be a period of catch-up for Bitcoin as it lags behind equities.
Shifting focus to XRP, Santiment highlights that the sixth-largest cryptocurrency by market cap is currently experiencing record address activity and high levels of crowd optimism.
XRP’s network has become the top trending asset in the crypto space as prices have surged by 22% in the past 19 days.
Santiment also observes historically high surges in address activity for this sixth-ranked market cap asset. They anticipate XRP’s price to exhibit unique behavior in the meantime.
Examining the peer-to-peer payments network Litecoin (LTC), Santiment reveals that the altcoin’s rise above a significant psychological level coincides with increased on-chain transaction volume and notable whale activity.
Litecoin’s market value has increased by 6.5% in the past 24 hours, driven by a massive two-year high in on-chain transaction volume and the highest whale activity since January.
Additionally, with Litecoin’s halving scheduled in just over two months, the surge in value gains further attention.