Santiment analysts are quite optimistic about Ethereum, which came to the fore with a record number of active addresses. However, according to other analysts, the rival altcoin project is preparing to shrink ETH’s share of the pie.
Leading altcoin reached the largest number of active addresses in the last 10 years
Ethereum (ETH) came to the fore with the number of active addresses reaching the second highest level in its history. On September 14, Santiment analysts reported that the number of active and unique wallets operating on the Ethereum network reached a historic high of 13 yesterday. The on-chain analysis platform announced that Ethereum has achieved this success for the second time in its nearly 9-year history. Analysts considered this a “comeback” signal for Ethereum.
According to the report, the Ethereum network hosted a total of 1,089,893 unique wallets in one day. Santiment analysts say that this development indicates an increase in ETH demand.
https://twitter.com/santimentfeed/status/1702255181789102512
The 1 million 89 thousand unique wallets traded on the altcoin network on Wednesday represented the second-highest amount in Ethereum’s history for more than 9 years. Santiment emphasized that this “historical anomaly” could be a capitulation signal for the recovery of prices.
On the other hand, the number of transactions that took place that day reached 1.627 million, the highest level since December 9, 2022. However, we should point out that most of this figure comes from Binance wallet movements. Santiment stated on September 12 that increased activity in dormant Ethereum wallets could be a bullish signal.
Analysts also point out the growth momentum in Solana
Trying to compensate for the losses of the FTX crisis, Solana (SOL) has the potential to leave Ethereum (ETH) behind with its superior performance in the cryptocurrency market. Analyst Steven Walgenbach draws attention to technical developments at this point.
The altcoin is currently up 4.5% over the last 24 hours. There has been a massive liquidation of SOL lately due to its close relationship to FTX. However, investors viewed this as an attractive buying opportunity for SOL.
According to technical analysis, SOL is aimed at breaking the critical support level of $17 on Tuesday. Investors managed to maintain this level, resulting in an increase in buying activity. The altcoin bounced from this support level and formed a positive trend. According to analysts, this trend may continue for the next 24-48 hours. Meanwhile, Osmosis researcher Osmo noted that SOL’s social domination has reached heights, with the altcoin’s price tripling.
https://twitter.com/Flowslikeosmo/status/1701234240644342008
As we reported as Kriptokoin.com, Solana is still facing the selling pressure caused by FTX.
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