Ethereum is a number (ETHAccording to Santiment, the number of ) owners continues to increase despite the declining value of the leading altcoin.
Santiment notes Bitcoin’s wallets are growing in number, but ETH has a similar growth.BTCSince mid-March, wallets are dropping.
“Bitcoin holders have just had their biggest three-day drop in non-empty wallets since just prior to the March 14th all-time high. Unlike then, BTC has been sliding, provoking traders to liquidate for fear of further drops. Meanwhile, Ethereum wallets keep growing in number.”
At the time of this writing, Ethereum was trading at $3,400, down by more than 4% over the past 24 hours.
Santiment notes Social media mentions of XRPDogecoinDOGEShiba inu (SHIB( ), indicating that a bottom may be developing for digital assets.
“Crowd sentiment has dropped significantly for XRP, Dogecoin and Shiba Inu after their respective price drops. Patient traders who have been waiting for the crowd to give up on these large cap altcoins may finally have their buy opportunity with fear of missing out (FOMO) at a 2024 low.”
At the time of this writing, XRP was trading at $0.47. This is down by more than 7% over the past 24 hours. DOGE, on the other hand, is currently trading at $0.11, which is down by 9.5% over the past 24 hours. SHIB, on the other hand, is now trading at $0.0000177.
Last but not least, Santiment says The fact that social media mentions of altseason descending on the cryptomarket are declining suggests that there may be a bottom in sight for the altcoin market as a whole.
“There is a notable trend between the mentions of crypto being an alt season, and markets hitting a top. When traders become greedy, their interests in altcoins rise. After the latest March top, this FOMO has calmed considerably. Crowd fear brings us closer to a bottom.”
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