Cryptocurrency analysis firm Santiment has released a list of altcoins that have seen the highest number of new wallets opened this week. Despite a market downturn, these altcoins are experiencing network growth, as reported by Santiment.
Analysts suggest that both the expansion of use cases and network growth create favorable conditions for market value growth in the long term. They caution investors to focus on altcoins that have witnessed significant increases in new wallet formation.
The following is the list compiled by Santiment, showcasing the altcoins that have experienced the highest network growth in the past week, along with the rate of their network growth:
1. Baby Doge Coin (BabyDoge) – 502%
2. UNUS SED LEO (LEO) – 400%
3. TrueUSD (TUSD) – 266%
4. Dai (DAI) – 214%
5. SushiSwap (SUSHI) – 141%
6. Frax (FRAX) – 100%
7. Turbo (TURBO) – 99%
8. Tether (USDT) – 94%
9. Mog Coin (MOG) – 85%
It is worth noting that the growth rates mentioned above have not been analyzed across all wallets but are specific to certain blockchain networks. The mentioned growth rates apply to SUSHI on the BNB network, FRAX on the Avalanche network, and USDT on the Polygon network.
* This information does not constitute investment advice.
