Crypto analytics firm Santiment says Decentraland (MANA), Tezos (XTZ) and several other altcoins are leading the charge as digital asset markets enjoy a broad bounce.
Scanning the markets for price movements, Santiment points out that other than Decentraland and Tezos, the top-performing coins are Bitfinex’s utility token LEO Token (LEO), interoperable blockchain Quant (QNT) and micropayment-focused blockchain YOUCash (YOUC).
“This past week was a roller coaster for crypto prices. However, after BTC bumped prices market-wide after a rally to end the week, assets’ weekly returns are now mostly a sea of green. MANA, LEO, XTZ, QNT, and YOUC led the charge among top coins.”
At time of writing, Decentraland has rallied nearly 30% from its seven-day low of $2.44 to a high of $3.17, while Tezos has recorded a 17% gain in the same timeframe. LEO, QNT, and YOUC all rallied 47%, 56% and 70%, respectively.
While altcoins bounce, Ethereum (ETH), the biggest of them all, is potentially in the process of recapturing the $3,000 level. Santiment’s data shows the amount of active Ethereum addresses is spiking to levels not seen since early December of last year.
“On a much more lively than usual Saturday, Ethereum hodlers were happy to see the #2 market cap asset regain the $3,000 threshold for the first time in over 2 weeks. The amount of unique ETH addresses transacting has hit a two-month high as well.”
Santiment also shows that Tether whales, or entities with more than 1 million USDT, are in a steady uptrend for market share.
“Tether’s addresses valued at $1M are on the cusp of returning to owning 80%+ of USDT’s supply for the first time in three weeks. Generally, whale stablecoin addresses increasing their buying power is a good prospect for crypto’s long-term future.”Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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