This year, a notable surge in daily trade-related addresses is observed for several altcoins. Litecoin, Maker, and LidoDao, in particular, are experiencing significant increases in address activity, indicating heightened utility and often accompanying market capitalization expansion.
While Maker ($MKR) and LidoDao ($LDO) have realized this expansion, Litecoin ($LTC) is yet to reflect a similar price gain, currently displaying a bullish divergence.
📊 #Litecoin, #Maker, and #LidoDao are all seeing rapidly rising address activity. Typically, this gradually rising utility is accompanied by market cap growth. While $MKR and $LDO have seen this come to fruition, $LTC has yet to see a similar rise. https://t.co/hOwwknnP98 pic.twitter.com/rbmswUrx82
— Santiment (@santimentfeed) January 4, 2024
Litecoin stands out with a remarkable surge in new addresses, marking its most significant increase in over two years. In a single day, an astonishing 1.27 million LTC addresses were generated, and this heightened address activity persists.
$LDO Records Gain Of $49,000 Per Investor
LidoFinance’s ($LDO) performance is noteworthy, with a gain of $49,000 per investor, securing the second position among top-performing tokens for smart money addresses. Polygon MATIC holds the lead in this regard.
🧠💰 Where did Smart Money get major earnings this week? Let's find out:
– @0xPolygon $MATIC tops list w/ profits of $171K/investor despite @mcuban unstaking
– @LidoFinance $LDO registers $49K/investor gains
– @MetisDAO $METIS 219% hike leads to $20K profit/address pic.twitter.com/8KJzqk3xbk— Scopescan (@0xScopescan) December 28, 2023
The increasing address activity for these altcoins signals growing interest and engagement within the crypto community. As utility expands and new addresses proliferate, the potential for market capitalization growth becomes evident.
While Maker and LidoDao have already translated this activity into price gains, Litecoin’s current bullish divergence suggests the possibility of catching up.
These developments underscore the dynamic nature of the cryptocurrency market, where address activity serves as a valuable indicator of rising popularity and potential market shifts.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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