Cryptocurrency Activity Surges Across Various Metrics; AI Tokens Gain Traction

As the cryptocurrency market experiences heightened volatility at the end of the week, several assets are exhibiting significantly increased network activity compared to their usual levels over the past three months.

According to the Asset Activity Matrix on the santiment feed, certain cryptocurrencies are leading in various categories:

Active Addresses: Notable assets in this category include $CVC, $KNC, and $LRC, indicating a surge in user engagement and interaction within these networks.

Network Growth: $CVC, $KNC, and $LRC are also prominent in network growth, suggesting an expansion of their respective ecosystems and user bases.

Whale Transactions: Assets like $CVC, $CVX, and $KNC are witnessing increased activity from large investors or “whales,” potentially influencing market dynamics.

$100K-$1M Wallet Accumulation: $CVC, $CVX, and $USDT are attracting accumulation by wallets with significant holdings, signaling confidence or strategic positioning by large investors.

Social Dominance: $LRC, $ZRX, and $DOGE are dominating social media discussions, reflecting heightened community engagement and interest.

Exchange Outflow: $BTC, $LRC, and $DAI are experiencing significant outflows from exchanges, potentially indicating a shift towards long-term holding or off-exchange storage.

Mean Dollar Invested Age: Notable assets in this category include $ZRX, $CVC, and $RPL, suggesting the average age of dollars invested in these tokens is relatively high.

Age Consumed: $ZRX, $CVC, and $SXP are witnessing substantial activity indicating the movement or utilization of older tokens within their networks.

Furthermore, interest in AI-related tokens has been steadily increasing in recent times, with cryptocurrencies like $NEARProtocol, $OasisProtocol, and $GolemProject experiencing notable development activity rates over the past 30 days, as per Santiment data.

These trends highlight the dynamic nature of the cryptocurrency market and the growing interest in both traditional metrics and emerging sectors like AI and Big Data within the crypto space.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.