Santiment named five altcoins that you need to take a closer look at

Santiment analysts said that the altcoin market is finally showing signs of recovery and pointed to five tokens that are worth a closer look.

According to experts, five tokens of well-known blockchain projects are now showing some signs of recovery. However, this is still not enough to offset the fall in prices over the past few months.

Santiment said that the tokens of the DODO (DODO), Gala Games (GALA), Magic (MAGIC), Mask Network (MASK) and Serum (SRM) projects have every chance of success in the coming months.

“Altcoins have shown some moderate signs of life this week, but certainly not enough to offset the large losses that traders have accumulated since June. At the same time, many see historic growth opportunities such as DODO, GALA, MAGIC, MASK and SRM,” Santiment noted.

A CoinShares report showed that Solana (SOL) has become the most beloved altcoin among investors. Since the beginning of the year, the inflow of this cryptocurrency into investment products amounted to $26 million. However, among the altcoin products, Polygon (MATIC) and Ethereum (ETH) seemed to have the largest outflow. They received $8.6 million and $3.2 million, respectively.

Bitcoin (BTC) has maintained its lead in terms of inflow of funds. Capital inflows into BTC were $3.8 million, while assets under management (AuM) fell 48% from this year’s peak.

However, the status of the best-selling altcoin of 2023 was given to Ripple (XRP) thanks to the victory over the US Securities and Exchange Commission (SEC). The closest competitors to XRP are SOL, Dogecoin (DOGE), Binance Coin (BNB) and MATIC.

In addition, the data shows that bitcoin’s share of dominance has fallen by 8% since the beginning of July after the decision in the Ripple case, which instantly caused the altcoin markets to rise. At the end of July, BTC dominance on the top 25 centralized exchanges (CEX) was at its lowest level since April at 27%.