The crypto market has been struggling for eight weeks, but some altcoins show signs of recovery.
Altcoins Rebound Amid the Dip
Santiment's platform highlights that despite the market downturn, large-cap altcoins like Ripple (XRP), Binance Coin (BNB), Tron (TRON), and Stellar (XLM) are gaining momentum. The study revealed an increase in network utility, active addresses, and other key metrics.
Positive Network Metrics
Santiment's analysis shows Dogecoin (DOGE) leads in address activity growth. PAXG is noted for highest network growth. Magic Token attracts interest from major stakeholders, while Audius and Uma gain attention on social media. PAXG also exhibits strong exchange outflow metrics.
Conclusion: Market Outlook
According to Santiment, large-cap altcoins might change the market landscape in the near future. This presents new opportunities for investors and suggests the crypto market can remain vibrant despite temporary downturns.
While the crypto market faces challenges, some altcoins are showing recovery signs, heralding new opportunities for investors.
