TechFlow reported on March 14 that Santiment's analytical report showed while the overall crypto market remains sluggish, certain altcoins are demonstrating significant growth in on-chain and social activity. The report noted that during the period when Bitcoin’s price fluctuated between $78,000 and $84,000, large-cap tokens such as XRP, BNB, Tron, and Stellar have been quietly gaining momentum, with multiple projects showing notable increases in on-chain and social metrics. Specific data includes:
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Fastest-growing address activity: Dogecoin (market cap rank #11);
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Fastest network growth: PAX Gold (market cap rank #83);
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Fastest-growing whale transactions: Magic Token (market cap rank #558);
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Fastest-growing sentiment indicator: Audius (market cap rank #242);
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Fastest-growing social dominance: UMA (market cap rank #251);
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Fastest-growing exchange flow: PAX Gold (market cap rank #83);
Santiment’s Activity Matrix model indicates the broader market is currently in a “cold” state, with most network activity metrics low—typical after a bull cycle peaks followed by a sharp decline. Speculative assets such as Pepe, Chainlink, and Shiba Inu are now experiencing their “coldest” levels of network activity so far this year.
The report explained that during broad market downtrends, ideal signs of recovery would be sudden increases in whale transactions (indicating accumulation by large holders) or network growth (suggesting upcoming rise in on-chain activity). Improvements in these indicators could signal potential turnaround for specific projects, even though the overall market remains within an eight-week downtrend.
Analysts noted that while retail traders may have exited the crypto market or paused trading until sentiment improves, certain projects are displaying positive signals, potentially positioning them as candidates for a near-term market rebound.
