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Another noteworthy thing in May is that Bitcoinâs (BTC) 30-day volatility dropped to 1.52%, which is far below the yearly average of 4% and higher.
After rising for four successive months, Bitcoin is on track to end May with losses of about 7%.
1INCH and HBAR will collectively see more than $120 million unlocked in the next 7 days.
Tokenomics insights platform Token Unlocks noted that more than $850 million worth of crypto will be unlocked this week.
Notably, OP and 1 INCH will see $618 million and $100 million unlocked respectively.
if SAND experiences extreme bullish sentiment, then it would reach the $1.5 level.
Meanwhile, the price prediction of SAND for 2023 remains to be bullish and is expected to reach beyond the level of $1.06.
If the candlesticks continue to rise, then, there is a high chance that it could reach the Resistance level.
The ADX is also valued at 36.25, which confirms that the trend has a very strong strength.
According to Santiment, increasing utility is necessary for crypto assets to enjoy sustained rallies.
The recent recovery in the on-chain metric marks a 3-week high as BTCâs utility shows signs of picking up.
Address activity for Bitcoin (BTC) has started to pick up again after concerningly low levels in May. In a tweet published earlier today, the blockchain intelligence firm Santiment noted that the number of active addresses for BTC climbed back to 960K for the first time since 3 May 2023.
A Twitter user Lercy Lago pointed out that while Cardano may boast impressive on-chain statistics, similar claims can be made about other platforms like the Tron blockchain (TRX). The crypto enthusiast argued that Cardanoâs TVL and valuation are mere jokes while doubting whether ADA would ever surpass its all-time high (ATH) of $3 again.
This development has led to speculation among investors and analysts, questioning whether it was time to pay closer attention to Cardanoâs native cryptocurrency, ADA. However, not all responses to Dynamoâs tweet were positive.
Dynamo shared a screenshot containing data from DefiLlama, the well-known DeFi TVL aggregator, showing that Cardano DEX volume has exceeded $120 million. This amount is double the volume obtainable in April, which was around $60 million.
The $14 million transaction Santiment spotted on Illuvium was also between two non-exchange addresses. This transaction pushed the on-chain transaction volume of the Illuvium (ILV) network to new heights. Santimentâs analysis suggests the development could become a bullish signal. The Santiment analysis considers the current price of ILV as a plausible bottom zone.
Santiment observed that two non-exchange addresses transferred $36.4 million between themselves on Lido DAO. However, the networkâs transaction volume did not reflect a significant spike. Santiment indicates this could be due to several other large transactions the Lido network has experienced in 2023. Hence, the recent whale transaction is not an isolated event on Lido DAO.
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