Santiment Names Three Altcoins: “Network Activity Increases as Prices Drop”

According to new information provided by crypto analytics firm Santiment, there has been a noticeable shift in the onchain data of three altcoins as traders await a potential recovery in the Bitcoin and crypto markets.

Altcoins Cardano (ADA), Quant (QNT), and Holo (HOT) have all seen a spike in address activity in their onchain data, according to the analysts. Coins that have seen a historical price decline are more likely to spike when they see such a spike in network activity, according to Santiment.

According to the data, Cardano's address activity has increased to its highest level since March last year, while for Quant, interestingly, similar data has not been recorded at such a high level since November 2022.

Finally, on the Holo side, similar to Cardano, such high network activity has not been recorded since March. The data is taken from the number of daily active addresses making transactions.

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