A recent report from Santiment, a renowned analytics firm, has highlighted a notable increase in the number of new wallets being created for several low-cap altcoins in the cryptocurrency market. According to Santiment, these projects have witnessed a significant surge in network growth over the past week, indicating growing interest and adoption among investors.
Leading the pack is IQ.wiki (IQ), an AI-related crypto project that has experienced a staggering 2,500% surge in new wallets created in the last seven days. IQ prides itself on being a reliable source of objective and high-quality knowledge in the blockchain and cryptocurrency space, utilizing artificial intelligence to summarize wiki articles and scale its content. With a market cap of $154 million, IQ currently ranks as the 430th-largest crypto project.
Following closely behind is CARV (CARV), a modular data layer focused on empowering users to manage their data in gaming and AI environments. Santiment reports an 1,800% increase in new wallets created for CARV within a week, with a market cap exceeding $130.78 million, making it the 474th-largest crypto project.
In third place is Frax (FRAX), a DeFi ecosystem offering stablecoin, liquid staking, and other financial products. Santiment notes a remarkable 1,283.33% growth in the number of new wallets created for FRAX over the same one-week period. With a market cap of over $647 million, FRAX holds the 155th spot among crypto projects.
Safe (SAFE) takes the fourth spot with a 931.58% rise in new wallets created. SAFE is a smart contract wallet that prioritizes the security of users’ crypto assets by implementing multisig technology for transaction processing. With a market cap of $478.69 million, SAFE stands as the 191st-largest crypto asset.
Additionally, Santiment highlights other crypto projects that have experienced a notable surge in new wallets created, including Power Ledger (POWR), Raydium (RAY), Metal (MTL), SmarDEX (SDEX), and DevvE (DEVVE).
The analytics firm suggests that an increase in network growth often precedes price rallies for these projects, emphasizing the importance of patience and strategic investment decisions. By waiting for Bitcoin to generate profits that can be reinvested in promising projects like these, investors can capitalize on the potential market value growth that accompanies rising utility.
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