The Bitcoin (BTC) market witnessed a breathtaking surge towards $31k on Monday, as key stakeholders demonstrated unwavering confidence and encouraging signs of accumulation. An optimistic outlook for the industry emerged when Coinbase, a leading cryptocurrency exchange, was named in the BlackRock-backed Bitcoin ETF re-application by Nasdaq.
This development marked a significant step forward for the market surveillance program and reinforced the industry’s bullish sentiment.
A Thriving Crypto Industry
Despite the ongoing regulatory scrutiny by the Securities and Exchange Commission (SEC), experts believe that the crypto market, led by Bitcoin, has received substantial validation. A $10 trillion investment fund manager’s support has bolstered confidence in the industry.
This endorsement carries significant weight and highlights the growing acceptance of cryptocurrencies.
Santiment: Watch Out for these Top Altcoins
According to market intelligence platform santiment 
santiment On-Chain 
, several top altcoins are demonstrating a bullish outlook as their social dominance continues to grow. While Bitcoin maintains a high social dominance of approximately 23.95 percent, some noteworthy altcoins are gaining traction.
For instance, as of June 28, Ethereum boasted a social dominance of about 7.32 percent, XRP at 1.17 percent, Cardano (ADA) at approximately 1.53 percent, and BNB around 0.643 percent.
Exciting Time for Investors
Given the recent developments, Santiment advises crypto traders to closely monitor altcoins that receive less attention compared to Bitcoin. These lesser-known assets hold the potential for a significant upside surge, and investors should remain vigilant for any unexpected price movements.
Also Read: BTC Price Analysis: Bitcoin’s Recent Silver Cross Points to Potential Breakout Above $40K
It is important to note that the altcoins mentioned by Santiment are currently under the radar of the United States Securities and Exchange Commission (SEC) for being unregistered securities. Despite this, the respective crypto firms vehemently defend their decentralization aspect.
However, due to the lack of a clear crypto regulatory framework from Congress, the final ruling lies within the purview of the US judicial system.
