In the midst of the recent Bitcoin bull run, crypto analysis firm Santiment detected a notable increase in network activity among ten specific altcoins. This increase points to a trend of increasing diversification in the crypto market as traders and investors seek unique opportunities outside of the more established Bitcoin and Ethereum. A recent post by Santiment indicates that a broader rise is expected in various altcoin projects. Here are the details…
Santiment is bullish for 10 coins
Santiment, a leading Blockchain intelligence firm, has been closely monitoring the network activities of various altcoins during the recent Bitcoin and Ethereum bull runs. Their latest reports shed light on significant increases in the network activity of these mid-sized cryptocurrencies. Ten altcoins attracted Santiment’s attention due to increased network activity: Axie Infinity (AXS), Decentraland (MANA), Fantom (FTM), Injective (INJ), Polygon (MATIC), DAI, Pepe (PEPE), Powerledger (POWR), Quant (QNT) and SingularityNET (AGIX).
A key metric highlighted in Santiment’s report is the number of new daily cryptocurrency wallets created for these select altcoins, reaching unprecedented levels. This data underscores the growing interest and investment in these crypto assets as traders and investors seek opportunities beyond the more established Bitcoin and Ethereum. This increase in altcoin network activity coincides with a period when Bitcoin and Ethereum reached their highest price levels since May 2022. While the crypto community is keeping a close eye on these market leaders, the increase in altcoin network activity points to a broader shift towards diversification.
Do altcoins outperform BTC and ETH?
Investors are increasingly exploring alternative assets in the belief that these mid-cap cryptocurrencies may offer unique investment opportunities. The potential for these altcoins to outperform larger cryptocurrencies in the near future has garnered much attention. As the crypto world continues to evolve, these increases in network activity among certain altcoins indicate a growing appetite for diversity and innovation in the crypto space. Santiment’s findings underscore the dynamic nature of the market and the potential for exciting developments beyond Bitcoin and Ethereum in the coming months. Crypto enthusiasts and investors are eagerly waiting to see which of these altcoins could emerge as the next big winners in the crypto market.
Meanwhile, the largest cryptocurrency, Bitcoin (BTC), is likely to complete its first golden cross since early February, where the 50-day simple moving average (SMA) crossed the 200-day SMA on an upward trajectory, a sign of strengthening bullish momentum, according to experts. is on its way.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.