17. April 2024

XRP Flourishes, BTC May Follow: Santiment Blockchain Analysis

• Santiment, a blockchain analytics platform, says that Bitcoin (BTC) has not caught up with the recent rally in the stock market but could soon follow suit.
• The firm believes that XRP is enjoying record address activity and high levels of crowd optimism.
• Litecoin (LTC) is seeing an increase in on-chain transaction volume and high whale activity as its halving approaches.

Bitcoin Could Catch Up With Rallying Stocks

Santiment, a blockchain analytics platform, believes that Bitcoin (BTC) has not yet caught up with the recent rally in the stock market but could soon follow suit. The US House has passed a key debt ceiling deal, launching the S&P 500 to its highest price since August while Bitcoin has fallen behind this strong performance as of late.

XRP Enjoys Record Address Activity & High Crowd Optimism

The sixth-largest crypto asset by market cap, XRP, is enjoying record address activity and high levels of crowd optimism according to Santiment. Prices for XRP have jumped +22% over the past 19 days and its network is currently the top trending asset in crypto at present.

Litecoin Halving Approaching & Seeing Increase On-Chain Transaction Volume

Litecoin (LTC) is now just over two months away from its halving event and prices for LTC are currently +6.5% higher than they were 24 hours ago. This surge has been powered by a massive two-year high in on-chain transaction volume and also due to an increase in whale activity since January.

Conclusion

Overall it appears that both XRP and Litecoin are performing well compared to Bitcoin at present but there could be some catch up time coming soon for BTC too given the current bullish sentiment across all markets right now. Investors should always do their own research before making any investments however, as all transfers and trades come with inherent risks which must be considered before entering into any positions or transactions involving cryptocurrencies or digital assets of any kind.