A recent analysis by crypto analytics titan, Santiment, has drawn attention to the burgeoning activity around several altcoins. The firm’s report indicates a notable surge in daily active address counts for select altcoins, suggesting heightened activity and interest in these digital assets.
Bitcoin Cash (BCH), a familiar name in the crypto sphere and a hard fork of the eminent Bitcoin (BTC) from 2017, is one of the coins gaining traction. Currently priced at $229.66, Bitcoin Cash, the 17th most valued crypto asset in terms of market capitalization, has observed a slight dip of approximately 2% in the last day.
📈 Despite markets cooling off for a 2nd consecutive day, several #altcoins are seeing rises in the amount of unique addresses interacting on their networks. Keep an eye on $BCH, $SLP, $MASK, $LEVER, & $CVC. Also, #crypto's top #stablecoin, $USDT. https://t.co/DDsQFKVCoz pic.twitter.com/x5vfwabMml
— Santiment (@santimentfeed) October 4, 2023
Another standout in Santiment’s report is Smooth Love Potion (SLP). Recognized as a pivotal token within the Axie Infinity (AXS) framework, it’s primarily utilized to claim rewards and to acquire creatures in the virtual battle arena game. With its current trading value pegged at $0.00156, this 329th-ranked asset has jumped a commendable 8% in a single day.
The list further includes MASK, an Ethereum (ETH)-rooted governance token attributed to the Mask decentralized autonomous organization (DAO). Mask Network is pioneering as a decentralized gateway, enabling users to seamlessly integrate blockchain functionalities over existing social networks. As of the latest update, MASK trades at $2.66, witnessing a decline of over 3% within the past day.
Civic Pass, another entrant in the report, introduces itself as an avant-garde, multi-chain, wallet-neutral identity, and access management tool. Designed to cater to smart contracts, DApps, and emerging Web2 companies venturing into the blockchain realm, its native token CVC currently trades at a value of $0.077. Ranking 338th in terms of market capitalization, CVC has seen a drop of slightly over 1.6% in the last 24 hours.
As the crypto market continues to evolve with these changing dynamics, Santiment’s analysis offers a fresh perspective into which altcoins might be the next big players in the decentralized financial landscape.
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