Santiment Data Reveals Significant Increase in Activity for Three Altcoin Projects

The cryptocurrency analysis firm Santiment recently studied three altcoins – Pepe (PEPE), Fetch AI (FET), and Ethereum Name Service (ENS) – and noted a general trend in the growth of their networks. For all three coins, there is observed growth in the creation of new wallets simultaneously. According to Santiment analysts, the sharp increase in the number of new wallet addresses usually indicates either fear of missing out (FOMO), caused by rising prices, or expectations of a bullish market movement.

In the case of Fetch AI (FET), it has formed alliances with two other AI-focused altcoins, leading to a significant increase in the number of wallets. Analysts attribute this growth to the impact of the collaboration. Read more:

A crypto project unexpectedly decided to destroy 5% of its supply. They also predict increased volatility for FET, especially with the initially planned merger with OCEAN and AGIX in June, which is now postponed to July 15, 2024. Analysts warn that significant market fluctuations for FET may be observed during the period leading up to the scheduled merger date.