The number of active addresses on smart contract platforms has reached an all-time high despite a price correction, which is seen as a positive sign for the cryptocurrency asset class, according to analyst Jamie Coutts. While the total market cap has decreased by 35% since March, it is up 63% from a year ago, indicating a healthy correction in a bullish market. Solana has seen a surge in active addresses and has surpassed Ethereum in several metrics, although Ethereum still leads in stablecoin market cap and other areas. Coutts suggests that the increase in market liquidity could set up Bitcoin for a rally in the last four months of the year, typically a strong period for the flagship cryptocurrency.
- Content Editor ( dailyhodl.com )
- 2024-09-11
Crypto Reaches New All-Time High in Active Addresses Amid ‘Healthy Correction in Bull Market’: Jamie Coutts