Santiment, a blockchain intelligence firm, has been closely monitoring the network activity of various mid-sized cryptocurrencies amid the Bitcoin and Ethereum bull runs. Their latest findings have uncovered substantial spikes in the network activity of these specific digital assets.
Want to uncover these insights? All you need to do is read on!
In a recent post, crypto analytics firm Santiment highlighted a surge in network activity among ten specific altcoins during the recent Bitcoin bull run. Analysts report that the number of new daily crypto wallets created on these altcoins has reached its peak.
Also Read: Bitcoin Bull Market Returns: Expert Predicts New ATH in 2024
The altcoins identified by Santiment include Axie Infinity (AXS), Decentraland (MANA), Fantom (FTM), Injective (INJ), Polygon (MATIC), DAI, Pepe (PEPE), Powerledger (POWR), Quant (QNT), and SingularityNET (AGIX).
Santiment’s report highlights a crucial metric: the number of new daily cryptocurrency wallets created for these altcoins has surged to unprecedented levels. This data reflects a growing interest and investment in these digital assets as traders and investors explore opportunities beyond the more established BTC and ETH.
At the same time, both Bitcoin and Ethereum have reached their highest price levels since May 2022, leading the crypto community to closely watch for the emergence of the next major winners among altcoins.
Read More: Alt-Season Potential: Bitcoin Dominance Correction Could Fuel Altcoin Surge
The surge in altcoin network activity suggests a notable trend in the crypto market—a move towards diversification. Traders are exploring alternative assets in search of unique investment prospects that have the potential to outperform the larger cryptocurrencies in the near future.
This growing interest in diversification is guiding the crypto market toward new opportunities for success.
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