Many blockchain projects, including Shiba Inu ($SHIB ), $XRP , and Band Protocol ($BAND ), have seen significant growth in network activity, indicating a surge in optimistic investor sentiment. The spikes in network growth were much higher than normal levels, suggesting that prices could become volatile in the near future.

According to a report on X (formerly Twitter) by the blockchain analysis platform Santiment, just on Sunday, XRP added 22,357 new wallets, while SHIB saw the creation of 7,548 new wallets, and BAND added 35 new wallets. Higher than usual levels of activity indicate higher prices, provided the overall market sentiment remains optimistic.

Santiment explained that the influx of new wallets "demonstrates a high level of crowd engagement, mixed with a fair share of euphoria," adding that increased retail involvement could make SHIB, XRP, and BAND volatile in the short term. However, when it comes to the long-term perspective, this growing network activity "is a promising sign of increasing utility for any asset on the blockchain," the platform stated.