Leading analysts say the usefulness of Ethereum (ETH) hasn’t diminished despite price plunges over the past few months.
Santiment Note In a new tweet, ETH’s daily active address (DAA) numbers have been stable for the past four months, despite prices dropping by about 35% over the same period.
According to crypto analysis companies, Ethereum’s DAA and price discrepancies have created a bullish difference in major smart contract platforms.
Ethereum is trading at $ 2,769.18 at the time of writing, up nearly 5% in the last 24 hours.
Ethereum is not the only crypto asset that potentially flashes bullish indicators. Santiment states that the decentralized Oracle network Chainlink (LINK) is in an interesting token circulation pattern.
As the analytics company explained in a recent Santiment Insights blog post,
“There have been several times when distribution has increased, then littered, and then prices have skyrocketed. Now it is possible that the pattern is similar.”
Santiment also points out that since January, most of the LINK tokens have been lost and moved. This is a potential bottom indicator.
LINK is trading at $ 14.73 at the time of writing. Cryptocurrency, which ranks 24th in market capitalization, has risen by more than 6% in the last 24 hours.
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Featured images: Shutterstock / local_doctor / Natalia Siiatovskaia
