-AD-
HomeNewsETH: Santiment Report Hints at Huge Surge for This Ethereum-based Altcoin -...

ETH: Santiment Report Hints at Huge Surge for This Ethereum-based Altcoin – Report

- Advertisement -
  • Santiment suggests Ethereum-based altcoin ApeCoin (APE) could see a surge in price.
  • The token is linked to the Bored Ape Yacht Club community and is currently displaying bullish on-chain activity.

Santiment, a leading analytics firm, has issued a report suggesting that ApeCoin (APE), the native token of the Bored Ape Yacht Club community, could be gearing up for a significant surge. The report indicates that APE’s network activity has been on the rise, which could be a precursor to an upward price move. The firm highlights that APE is displaying the same on-chain signal that decentralized exchange Stargate Finance (STG) exhibited last month before its almost 50% surge.

Enlarged

However, Santiment notes that although APE is giving off a bullish on-chain reading, the signal does not guarantee that the altcoin will rally. As the crypto market is unpredictable, there is no guarantee that this trend will continue. Nonetheless, APE could be the first to benefit if traders suddenly flip bullish on cryptocurrencies.

The Bored Ape Yacht Club is a popular NFT project on the Ethereum blockchain, with its native token APE being the basis for the project’s governance and value. Recently, the project has gained massive attention from investors and collectors, with the total value locked in its smart contracts surpassing $1 billion.

Santiment’s report on APE highlights that the increased activity on the network could be a sign that retail investors are getting involved, which could result in a price surge. The report compares APE’s current network activity to that of Stargate Finance, which experienced a massive rally after a period of increased network activity.

At the time of writing, APE is trading at $4.23, and its market capitalization stands at around $1.8 billion, according to CoinMarketCap. The altcoin’s current market rank is 128, and its trading volume is around $60 million.

Overall, Santiment’s report on ApeCoin suggests that there is a bullish sentiment building around the project, with the increased network activity being a significant factor. However, as with all investments, there are risks involved, and the crypto market is volatile and unpredictable. Investors should conduct their research before making any investment decisions.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES