Cardano and Ethereum Spark Excitement with Soaring On-Chain Activity
Blockchain analytics firm Santiment has reported a significant surge in network activity for Cardano (ADA), positioning it for potential upward momentum.
According to their insights, Cardano has witnessed a remarkable increase of over 1,700% in weekly on-chain transactions since January, despite its current market value being lower than its peak in April. This suggests that Cardano’s utility and social dominance remain promising factors for its future performance.
As of the time of writing, Cardano is trading at $0.25, experiencing a minor 0.3% decline in the last 24 hours.
Santiment has also noted a resurgence in network activity for Ethereum, indicating the possibility of a price rebound.
Ethereum’s network recently recorded over 467,000 unique address interactions in a single day, the highest level since the onset of Bitcoin ETF announcements on June 16th. The increased utility typically serves as a catalyst for the value appreciation of assets like Ethereum.
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Ethereum is trading at $1,624, with a marginal 0.5% decrease in the past 24 hours.
Furthermore, Santiment previously highlighted the increased network activity for XRP, the digital token associated with Ripple Lab’s payment platform. September has started with the highest on-chain volume observed since February 1st, and XRP’s ecosystem is experiencing a notable surge in development activity.
XRP is currently valued at $0.50, with a slight 0.6% decline in the last 24 hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
