"The Number of New Addresses for Top Market Cap Cryptocurrencies Surges This Year"

Son Min

Summary

The number of new addresses for top market cap cryptocurrencies has surged, indicating increased community trust.
In particular, the number of new addresses for Ethereum increased by 645,000, showing the largest growth.
On the other hand, Chainlink saw a decrease in addresses, which can be viewed as a buying opportunity.

An analysis has emerged indicating that the number of new addresses for top market cap cryptocurrencies is rapidly increasing.

On the 9th (local time), Santiment stated on X, "The number of new addresses for top market cap cryptocurrencies has rapidly increased this year," adding, "This shows an increase in community trust in the respective projects."

In particular, Ethereum (ETH) showed the largest growth. According to Santiment data, 645,000 new addresses have been created for Ethereum this year. During the same period, new addresses for Bitcoin (BTC) and Ripple (XRP) increased by 102,000 and 58,000, respectively, while Dogecoin (DOGE) and Cardano (ADA) added 29,000 and 2,800 addresses, respectively.

On the other hand, Chainlink (LINK) saw a decrease of 3,300 addresses during the same period. Regarding this, Santiment explained, "The decrease in wallet numbers can create buying opportunities due to excessive fear (FUD)," and added, "It can be a contrarian investment strategy to act opposite to the crowd."