Santiment Names Three Altcoins: “Network Activity Increases as Price Declines”

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Bitcoinsistemi2024/09/08 10:36

By:Mete Demiralp

Cryptocurrency analysis company Santiment named three different altcoins and noted the increase in their network activity.

According to new information provided by cryptocurrency analytics firm Santiment, there has been a notable shift in the onchain data of three altcoins as traders await a potential rebound in the Bitcoin and cryptocurrency markets.

According to analysts, altcoins Cardano (ADA), Quant (QNT), and Holo (HOT) have all seen a sudden spike in address activity in their onchain data. According to Santiment, coins that have seen a decline in price have historically been more likely to experience a spike when they see such a surge in network activity.

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According to the data, address activity for Cardano has risen to its highest level since last March, while for Quant, interestingly, the same data has not been measured this high since November 2022.

Finally, on the Holo side, similar to Cardano, such high network activity has not been recorded since March.

The data was obtained from the number of daily active addresses performing transactions.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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