According to U.Today, a recent analytics report indicates that Bitcoin, the leading cryptocurrency, has outperformed its top 10 rivals, including Dogecoin and Cardano's native PoS token ADA, in terms of wallet activity. The report reveals that Bitcoin whales and smaller investors have been more active recently compared to those of Dogecoin and Cardano.
On-chain data aggregator Santiment has released a report detailing the recent activity of wallet owners who hold Bitcoin, Dogecoin, and Cardano. The report states that the number of non-empty Bitcoin wallets has been growing rapidly, despite the high volatility leading to fluctuating prices. In contrast, leading altcoins such as Dogecoin and Cardano have seen different trends. Dogecoin wallets, which saw growth earlier this year, have now flattened their rising curve. Cardano's ADA, on the other hand, is one of the few networks to see a drop in active wallets.
Despite these findings, another on-chain data company, cryptocurrency analyst and trader Ali Martinez, using Santiment data, has reported a significant drop in Bitcoin whales' activity over the past two weeks. Martinez suggests that a notable increase in Bitcoin whale transactions could potentially boost the Bitcoin price from its current level of $62,964.
