Monero rose 17% in a week, while gains in Zcash and PEPE also kept interest in altcoins alive, but Santiment noted that these moves have yet to spread across the broader market.
In its October 20 assessment, the data platform highlighted privacy-focused coins and memecoins. According to data available at the time of the post, Monero (XMR) gained 17% over the past seven days, while Zcash (ZEC) rose 5% on the day. PEPE was up 9% over the past 24 hours.
Updates for privacy coins, a rebound for memecoins
Santiment said Monero’s privacy updates and Zcash’s upcoming network improvements had renewed interest in these assets. It described moves in memecoins as sharp and speculative rebounds following recent sell-offs.
Meanwhile, many large-cap cryptocurrencies remained relatively calm. According to the firm’s assessment, capital is flowing toward assets that are attracting attention due to specific developments and seeing sharper price moves, rather than spreading across the entire market.
What’s missing for gains to spread to other altcoins?
From Santiment’s perspective, these gains show that investors’ risk appetite has not completely disappeared. However, the strong performance of a handful of assets is not yet enough to say that a broad altcoin rally has begun.
The point to watch is whether the number of assets participating in the move increases. Until participation broadens, the current picture points to buying concentrated in certain altcoins rather than strength across the broader market.
Not investment advice.