Four crypto altcoins are seeing a 10x increase in the number of new wallets created in one week: Santiment
Prominent analytics firm Santiment says a handful of low-value altcoins are seeing a sharp rise in the number of new wallets created over the past week.
In a thread on social media platform X, Santiment He says Artificial Intelligence (AI).) Related crypto project IQ.wiki (IQ) leads the pack after seeing a massive spike in network growth, With a 2500% increase in new wallets created in the last seven days.
IQ Bills itself as “the premier source of objective, high-quality knowledge on the Internet today for all things blockchain and cryptocurrency.” The project uses artificial intelligence to scale its content and summarize wiki articles.
IQ is the 430th cryptocurrency project by market capitalization at $154 million at the time of writing.
Next is CARV (CARV), which saw a 1,800% increase in the number of new wallets created in just one week, according to Santiment. CARV is a modular data layer designed to empower users to control their data in gaming and AI spaces. The project ranks as the 474th largest cryptocurrency with a market capitalization of over $130.78 million at the time of writing.
Coming in third place is Frax (FRAX), a decentralized finance (DeFi) ecosystem that offers stablecoins, liquid staking, and other financial products. According to Santiment, FRAX saw a 1,283.33% growth in the number of new wallets created within a one-week period.
FRAX is the 155th cryptocurrency project by market capitalization at over $647 million.
In fourth place comes the secure wallet (SAFE), with a 931.58% increase in the number of new wallets created. Safe is a smart contract wallet that aims to protect users’ crypto assets by requiring multiple signatures (multisig) to process transactions. SAFE is the 191st largest cryptocurrency asset with a market capitalization of $478.69 million.
Other cryptocurrency projects that have seen a spike in the number of new wallets created in the past week include peer-to-peer power platform Power Ledger (POWR), automated market maker Raydium (RAY), and payment processing token Metal (MTL), a decentralized exchange. SmarDEX (SDEX) and Layer 1 DevvE (DEVVE) protocol.
According to Santiment, a project that leads to network growth is usually preceded by price increases.
“With higher utility comes higher market values, given enough time. Be patient, wait for Bitcoin to provide profits to redistribute, and take advantage of projects like this.”
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