- The number of new Ethereum addresses has increased dramatically.
- Larger-cap cryptocurrencies seem to have struggled to keep up with star altcoin.
As the crypto market continues to overcome obstacles, it has now reached the big altseason. After Bitcoin reached its higher high in the early parts of Q4, cash poured into the top altcoin. The newest luxurious green charts have emphasized the cash flow to most cryptocurrencies.
While the market leader Bitcoin has hovered near $61,000. The star altcoin Ethereum, however, has outpaced the most valuable asset by 13.55 percent. Interesting, cryptocurrencies like The Sandbox (SAND), Arweave (AR), and The Jasmy Coin (JASMY) have followed the altcoin leader.
In Q4, Bitcoin and Ethereum have become fierce rivals. While the flagship asset has slowed after reaching a new ATH of $66,930, the star cryptocurrency has continued to shine. In terms of address activity, both are in a close race.
According to a recent Santiment analysis, the number of new Ethereum addresses has increased dramatically. The analytics revealed 995k network growth, its biggest week since mid-May. One million addresses are used in Bitcoin.
Bullish Altseason Motion
Interestingly, larger-cap cryptocurrencies seem to have struggled to keep up with star altcoin. Notably absent from the current Altseason are Cardano, Ripple, Dogecoin, and others. However, cryptocurrencies with a significant market cap like SAND, Arweave, and Jasmy have recently generated a lot of hype.
Another Santiment study shows the best performing cryptocurrencies recently. The SAND token has increased by over 313 percent in the last week. The research also breaks down Arweave and Jasmy. Some of the top 10 cryptocurrencies, including ADA, XRP, and DOGE, have stayed flat with no major growth. Moreover, Arweave just touched ATH in search of fresh highs.
Due to the May Chinese market meltdown, Jasmy currency has gone from $2.5 to $0.08. However, the coin’s recent surge of over 300 percent demonstrates its great capacity to retrace prior highs. Overall, the trend in crypto has shown several twists in the current bull cycles.