Crypto Market Blooms With Activity as Active Addresses Hit an ATH
The post Crypto Market Blooms With Activity as Active Addresses Hit an ATH appeared on BitcoinEthereumNews.com.
Over the last few weeks, the crypto market has witnessed a drastic change, including a surge in investor activity. During this time, Bitcoin is on a new price rally, currently trading at $67.2K, whereas other popular altcoins like Ethereum, Solana, and many others are also following an uptrend. With this, the crypto investor’s interest has returned to the market, whereas the fear and greed index indicates greed after two and half months. As a result, many have already declared the beginning of Uptober. This is such a significant improvement that the global market capitalization has surged to $2.31T and $79.79 in trading volume. More importantly, the crypto’s new gains have made a significant profit for its holders. It includes this incident of a crypto trader doubling his investment within a few days. Crypto Market Witnesses the Highest Active Addresses A16zcrypto crypto report revealed shocking but impressive news about investors’ activity. As per the report, the crypto market is in its prime, with the highest number of monthly active addresses. Notably, there were around 220M active addresses in the previous month, which is triple the 2023 data. More importantly, this explosion in the overall active address is due to Solana, the fifth-largest cryptocurrency in the market. Here, Solana alone is responsible for bringing 100 Million active addresses, followed by NEAR (31 Million), Base (22 Million), and TRON (14 Million). With this, these popular altcoins have beaten the top cryptos like Bitcoin and Ethereum, which is shocking. However, despite this rise, the Solana price rally is still pending. A few analysts have revealed that despite high active addresses, most were carrying zero to low SOL holding. After a significant defeat, Bitcoin has the fifth-highest active address with 11 Million in the count. Additionally, Ethereum played a role with 6 million active addresses,…
Filed under: News - @ October 17, 2024 5:25 pm