Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Fartcoin, and CoinMarketCap Attract the Most Attention in the Crypto Market

According to the top gainers in Token Mindshare (a metric quantifying the influence of specific tokens in the crypto market) by the AI-based Web3 search

The top five cryptocurrency-related keywords currently attracting the most attention, based on Token Mindshare (a metric quantifying the influence of specific tokens in the crypto market) as identified by the AI-powered Web3 search platform Kaito, are Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Fartcoin, and CoinMarketCap.

Bitcoin is garnering attention following a net outflow of $284.36 million from spot ETFs recorded the previous day. This marks the second consecutive trading day of net outflows, with only BlackRock's IBIT experiencing a net inflow of $29.29 million. Fidelity's FBTC saw the largest net outflow with $113.64 million being withdrawn. At the time of writing, Bitcoin is trading at $95,065.66 on CoinMarketCap, showing a 0.65% increase from the previous day.

Tether is gaining interest after announcing its plans to establish its headquarters in El Salvador. To achieve this, Tether first plans to obtain a Digital Asset Service Provider (DASP) license in El Salvador before relocating its headquarters.

Ethereum is attracting attention as spot ETFs recorded a net outflow of $39.52 million (approximately 57.8 billion KRW) the previous day. This marks the fourth consecutive trading day of net outflows, with only BlackRock's ETHA seeing a net inflow of $12.81 million. Currently, Ethereum is trading at $3,167.43 on CoinMarketCap, showing a decrease of 2.56% from the previous day.

The meme coin Fartcoin on Solana is seeing a surge in online mentions, which may be attributed to a sharp rise in price and market capitalization. At the time of writing, Fartcoin is trading at $1.09 on CoinMarketCap, showing an increase of 42.91% from the previous day, while its market capitalization is also up 42.91% to approximately $1.08 billion.

Finally, Coinbase is attracting attention after achieving a partial victory in its regulatory battle with the U.S. Securities and Exchange Commission (SEC). The court criticized the SEC's decision to deny a request for rulemaking related to crypto regulations as "arbitrary and capricious," ordering a review of the matter. Previously, Coinbase had requested the SEC in 2022 to establish rules clarifying the securities status of digital assets, but the SEC's refusal led Coinbase to take legal action.

Moreover, investors are also showing interest in USD Coin (USDC), Raydium (RAY), Solana (SOL), Peanut the Squirrel (PNUT), and Dogecoin (DOGE).