Bitcoin (BTC) Surpasses Dogecoin (DOGE) and Cardano (ADA) in This Important Metric

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A recent analysis report shows that the flagship cryptocurrency Bitcoin is trailing its rivals in the top 10 list, the original meme coin DOGE and Cardano’s native PoS token ADA.

The report shows that Bitcoin whales and small investors have been much more active recently than Dogecoin and Cardano.

Bitcoin surpasses DOGE and ADA in wallet activity

On-chain data aggregator Santiment has published a report on the recent activity of wallet owners holding Bitcoin, Dogecoin, and Cardano.

The tweet states that despite high volatility, the number of non-empty Bitcoin wallets is rapidly increasing, causing “price instability.” Regarding major altcoins such as Dogecoin and Cardano, Doge Wallet grew earlier this year, but the upward curve has now flattened.

As for Cardano’s ADA, Santiment says it is “one of the few networks that is seeing a decline in active wallets.”

Despite that data, another on-chain data company, cryptocurrency analyst and trader Ali Martinez, has used Santiment data to report significant Declining Bitcoin Whale Activity has been detected.

He suggested that a significant increase in Bitcoin whale trading could be a factor in pushing Bitcoin price up from its current level of $62,964.

About the author

Yuri Molchan

Yuri is interested in technology and innovation. He has been writing about his DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects in the future. He has contributed to multiple crypto media. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, and Max Kaiser.

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