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Coin Edition 2024-12-03 08:30:00

XRP, Shiba Inu, and Band Protocol See Network Growth Surge: What This Means for Crypto Prices

XRP, Shiba Inu, and Band Protocol See Network Growth Surge: What This Means for Crypto Prices

XRP and BAND saw the creation of 22,357 and 35 new wallets on Sunday, respectively. A massive 7,548 wallets were created on the meme coin project Shiba Inu. Santiment said that the rising number of wallets is bullish for the long term. Many blockchain projects, including Shiba Inu (SHIB), XRP, and Band Protocol (BAND), have seen significant increases in their network activity, suggesting a jump in investors’ bullish sentiments. The network growth spikes were much higher than normal levels, and this means the prices could become volatile in the near future. According to a post on X (formerly Twitter) by blockchain analysis platform Santiment, on Sunday alone, XRP added 22,357 new wallets, while 7,548 new wallets were created on SHIB, and BAND added 35 new wallets. The higher-than-normal activity levels point to higher prices, if the overall market sentiment remains bullish. Santiment explained that the influx of new wallets “shows a high level of crowd engagement, mixed with a fair bit of euphoria,” adding that the increased retail engagement might make SHIB, XRP, and BAND volatile in the short term. But when it comes to the long term, this increa… The post XRP, Shiba Inu, and Band Protocol See Network Growth Surge: What This Means for Crypto Prices appeared first on Coin Edition .

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