A Surge in Address Activity for Bitcoin Cash (BCH) and Altcoins
Crypto analytics firm Santiment has observed a significant surge in address activity for several altcoins. Bitcoin Cash (BCH), Smooth Love Potion (SLP), Mask Network (MASK), and Civic Pass (CVC) have all reached three-month highs in terms of daily active address counts.
Bitcoin Cash (BCH)
Bitcoin Cash is a Bitcoin hard fork that separated from the top cryptocurrency in 2017. It is currently trading at $229.66, experiencing a 2% decline in the past 24 hours.
Smooth Love Potion (SLP)
Smooth Love Potion is a token used within the Axie Infinity ecosystem for earning rewards and purchasing creatures in an online battling game. It is currently trading at $0.00156, with an almost 8% increase in the past day.
Mask Network (MASK)
MASK is the Ethereum-based governance token of the Mask decentralized autonomous organization. The Mask Network serves as a decentralized portal that allows users to access blockchain features on existing social networks. MASK is currently trading at $2.66, showing a decrease of over 3% in the past 24 hours.
Civic Pass (CVC)
Civic Pass offers an identity and access management solution for smart contracts, DApps, and Web2 companies entering the blockchain sector. Its native token, CVC, is currently trading at $0.077, experiencing a decline of more than 1.6% in the past day.
Hot Take: Altcoins Show Promising Growth in Address Activity
Bitcoin Cash and several altcoins, including Smooth Love Potion, Mask Network, and Civic Pass, are witnessing a surge in address activity. This indicates increasing interest and engagement with these cryptocurrencies. Despite some minor fluctuations in their prices, these altcoins have reached three-month highs in terms of daily active address counts. This development suggests growing adoption and usage of these digital assets. As the crypto market continues to evolve, it will be worth keeping an eye on these altcoins to monitor their further growth and potential opportunities.
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