Cryptographic analysis company Santiment stated that on chain activities indicate that Ethereum (ETH) and two counterfeit currencies may experience short-term price increases.Santiment pointed out that ETH, ShibaInu (SHIB), and SushiSwap (SUSHI) traders showed "slight signs of panic" on Thursday
Cryptographic analysis company Santiment stated that on chain activities indicate that Ethereum (ETH) and two counterfeit currencies may experience short-term price increases.
Santiment pointed out that ETH, ShibaInu (SHIB), and SushiSwap (SUSHI) traders showed "slight signs of panic" on Thursday.
According to the analysis company, all three networks experienced the highest level of trader losses (and profits) in 2023. Santiment pointed out that loss indicators are a significant signal of surrender and are "usually a sign of short-term rebound opportunities".
As of the time of writing, ETH's trading price was $1648. The second ranked crypto asset has increased by nearly 2% in the past 24 hours.
SHIB is a competitor of Dog Coin (DOGE), with a trading price of $0.000007 as of the time of writing. The 19th ranked asset by market value has increased by 0.67% in the past 24 hours.
Sushisswap is a multi chain decentralized exchange (DEX). As of the writing of this article, the transaction price of the original asset SUSHI of the project is approximately $0.578, which has increased by more than 3% in the past 24 hours.
Santiment also pointed out that due to the recent launch of Friend.tech challenger StarsArena (the decentralized social finance application (SocialFi) on the AVAX blockchain) causing heated discussions, traders are optimistic about Ethereum's competitor Avalanche (AVAX). The analysis company pointed out that the launch of StarsArena has led to the "injection" of new AVAX address activity.
As of the time of writing, the trading price of AVAX is $10.66. Crypto assets, ranked 21st by market value, have risen by nearly 5% in the past 24 hours.
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