PEPE, FET See Sharp Growth In Adoption: Rally Soon?

Network Growth Surge in Altcoins: PEPE, FET, and ENS

On-chain data from Santiment indicates that several altcoins have experienced a significant increase in their Network Growth, suggesting increased adoption.

Metrics and Significance

Network Growth measures the number of newly created addresses on a blockchain. This growth may indicate:

• New investors entering the market
• Existing investors re-entering
• Existing users creating additional addresses for privacy

Assets with High Network Growth

As of recent, Pepe (PEPE), Fetch.ai (FET), and Ethereum Name Service (ENS) have seen notable spikes in Network Growth.

PEPE Leads Adoption

PEPE's Network Growth has reached 4,196, indicating significant adoption. It is currently the altcoin with the highest Network Growth among the three.

FET's Historical Spike

FET previously experienced a similar spike in Network Growth, suggesting that its rapid adoption phase may have occurred earlier than PEPE's.

Implications for Price Action

Historically, increased adoption has been a positive sign for cryptocurrencies in the long term. However, short-term spikes in Network Growth can be mixed, as they may also reflect FOMO.

Case-by-Case Analysis

• ENS: Recent price surge suggests FOMO could be influencing Network Growth.
• PEPE and FET: Despite price declines, Network Growth spikes may have bullish implications.

Current Prices

• PEPE: $0.00001043 (-18% in the past week)