Bybit x Santiment social sentiment report: OM collapse and hopes of XRP ETF approval

Key Highlights:

• Market volatility: Ongoing US-China trade tensions are contributing to significant fluctuations in the cryptocurrency market.

• MANTRA OM token collapse: The OM token plummeted over 90%, prompting concerns about insider trading and leading to a crisis of confidence.

• XRP ETF momentum: XRP is a frontrunner for US Spot ETF approvals, bolstered by the successful launch of Teucrium’s 2x leveraged ETF and ten active applications.

• Growing institutional interest: XRP's improving market position indicates a shift toward broader acceptance of cryptocurrencies.

• Polarized sentiment: The crypto market is marked by divided opinions on project legitimacy and regulatory impacts, influencing investor confidence.