Ethereum (ETH) and Polygon (MATIC) Showing Growth in Key On-Chain Metrics: Analytics Firm Santiment

Ethereum (ETH) and Polygon (MATIC) are playing a key role in the recovery of the crypto market, according to leading analytics firm Santiment.

Santiment Note The number of whale addresses from 1,000 to 100,000 ETH has increased since early May.

“Ethereum recovered very well in July, increasing by + 29% that month and + 14% in the last 24 hours alone. In addition, 131 new whale addresses appeared on the network in early May. Since then, the major 1,000 to 100,000 ETH address layers have increased. “

Ethereum is trading at $ 1,533 at the time of writing. Cryptocurrency, ranked second by market capitalization, has risen by more than 15% in the last 24 hours and more than 40% in the last 7 days.

Santimento Note The address activity of MATIC, the native token of Polygon, a scaling solution aimed at enabling widespread adoption of distributed apps on the Ethereum blockchain, is increasing.

According to Santiment, MATIC’s address activity has risen compared to a 66% drop from a record high of $ 2.69.

“Altcoins spent the first half of 2022 watching the rise in market capitalization wipe out rapidly, but projects like MATIC quickly made up for some of that loss, +63 in a week. % Soared. Address activity is also increasing, and there are some interesting differences. “

MATIC is trading at $ 0.91 at the time of writing. Cryptocurrency, which ranks 12th in market capitalization, has risen by more than 23% in the past day and nearly 58% in the past week.Walt Disney Company only publication Last week, Polygon was one of the six participants in the 2022 Disney Accelerator class.

Santimento To tell Cryptographic traders have expressed a more optimistic view of Bitcoin (BTC) On social media.

“The moderate + 8% rise in Bitcoin in July was enough for crypto traders to start relaunching references to Lambo and Moon. Ironically or not, this is overly optimistic for traders. It happens when it is. The mention has reached the highest level since January 18th. “

BTC is trading at $ 22,107 at the time of writing. Top-ranked crypto assets by market capitalization have risen by more than 7% in the last 24 hours and more than 11% in the last 7 days.

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Featured images: Shutterstock / kersonyanovicha / monkographic