In a recent report, crypto analytics firm Santiment explains why they are very bullish on five cryptoassets.

In a post published to Santiment’s “Insights” blog on April 5, the analytics firm referred to a pair of tweets from April 3 that talked about three bullish indicators they regularly see before a cryptoasset sets a new all-time high:

  • “rising daily new addresses created”
  • “rising address activity”
  • “declining exchange deposits”

They then went on to say:




When active addresses move up over time for a crypto asset, while active deposits move down, it’s a reliable indication of a token seeing growing utility without funds moving to exchanges for potential sell-offs. In other words, this is a very bullish pattern our pro traders look for often.

Santiment says that its new Daily Active Deposits & Non-Deposit Activity Sansheets Model “easily identifies which assets are developing patterns similar to Ethereum’s.”

According to this model, the following cryptoassets could soon be setting new all-time highs: Skale ($SKL), Enjin Coin ($ENJ), Decentraland ($MANA), and Polygon ($MATIC), and Sentivate ($SNTVT).

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Posted in ,

American Crypto Association Exclusives!

Bookmark the site and sign up for relevant alerts, trading tips, masternode updates and important news hosted within our exclusive newsletter. Valued at $3,588, we are offering this service free for one year!

Get onboard now!

Exclusive Newsletter!

Sign up for exclusive trading tips, masternode updates and important news hosted within our newsletter!
!
!
Terms and Conditions checkbox is required.
Something went wrong. Please check your entries and try again.
Translate »
Scroll to Top