Bitrabo Editorial
Santiment data indicates that three altcoins have recently experienced significant bullish movement in their address activity.
Current High Active Addresses for Render, Aave, & Maker Altcoins
A recent post on X by Santiment discussed the surge in network activity for various altcoins.
The key metric here is “Daily Active Addresses,” which tracks the total number of addresses participating in transaction activity for a particular asset daily, accounting for both senders and receivers.
High values of this metric indicate increased network activity and a growing interest in cryptocurrencies, while low values suggest waning investor attention.
The chart below displays the trend in Daily Active Addresses for Render (RNDR), Aave (AAVE), and Maker (MKR) over the past few months:
Recent data shows a surge in Daily Active Addresses for these altcoins, coinciding with market recovery and heightened user activity.
Increased address activity alongside price growth is common in cryptocurrencies, driving investor excitement and transactions.
A growing number of active addresses can sustain a price rally, as user engagement fuels market momentum.
Historically, insufficient attention has caused price movements to lose momentum quickly. Maker, Aave, and Render may see a bullish trend following the recent increase in Daily Active Addresses.
The chart indicates that while MKR and Aave saw moderate increases, RNDR experienced significant growth in active addresses, reflecting strong interest in the altcoin.
The impact of rising Daily Active Addresses on the prices of these altcoins remains uncertain.
Current MKR Price
Maker is currently trading around $2,950, showing a 30% increase over the past week.