Recent data indicates a sharp rise in interest towards DeFi and Layer 2 tokens, as evidenced by the increase in the number of new addresses on the network.
Top Players in the Cryptocurrency Market
According to the latest data, [Ethereum](https://coindoo.com/cryptocurrencies/ethereum/) became the leader in new address creation, marking a growth of 648%. Following are WhiteBIT Token with 575% and WBTC on Optimism with 402%. This indicates a rising interest in wrapped assets and cross-chain functionality.
Surge in DeFi and Layer 2 Tokens
Other active market participants include BitDAO (BIT) with a growth of 175%, Uniswap on Polygon ([UNI](https://coindoo.com/cryptocurrencies/uniswap/)) with 174%, and Virtuals (VIRTUAL) with 120%. These figures demonstrate growing demand for DeFi and ecosystem integration.
Signals for Market Growth
According to Santiment, consistent long-term network growth often precedes upward momentum in token prices. Increased address activity may indicate strengthening ecosystems and improved asset positions in market capitalization in future cycles.
In conclusion, current trends in the cryptocurrency market indicate a growing interest in DeFi and Layer 2 tokens, which may lead to future increases in their market value.
