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Altcoin Trading Surges With Meme Tokens Showing Resilience in Market Drawdown
Despite a general drawdown in the broader crypto market, trading activity in altcoins and meme tokens has surged, notes an analyst from Kaiko, the Paris-based crypto market data provider.
Altcoins, short for “alternative coins,” refer to digital assets other than Bitcoin. They include a wide range of digital assets, from established ones like Ethereum to newer entrants like Solana trading under “SOL.”
Altcoin SOL Leads in Trading Volume This Year
“SOL, which had a stellar performance earlier in the year, leads in trade volume this year. This is similar to US-based exchanges and is largely explained by SOL’s outperformance,” Dessislava Aubert, a Senior Research Analyst at Kaiko told CryptoNews.
Meme tokens are a subset of altcoins, and are inspired by internet memes and culture. This includes Dogecoin (DOGE), Shiba Inu (SHIB), and the more recent Pepe Coin (PEPE). 18 replies
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