📈 Litecoin is enjoying a nice mini run, jumping above $73 for the first time since July. This is its first mid-sized breakout from Bitcoin and altcoins since the spring. Two major factors are:

⚡️ LTC's continued rise of on-chain transaction volume, which has nearly crossed $4B in a single day

⚡️A rise in LTC retail interest, as a result of continued development and initiatives from the OG network

📈 The notable projects seeing the highest increases in network growth (new addresses created) this week are:

1) Aave (On Optimism) $AAVE 🥇
2) Kucoin Token $KCS 🥈
3) Ethena $ENA 🥉
4) Puffer $PUFETH
5) Aioz $AIOZ
6) Ethereum $WETH
7) Frax $FRAX
8) Maker $MKR
9) Beam $BEAM
10) Raydium $RAY

Historically, projects with rising week over week utility and consistently new wallets being generated have significantly higher probabilities of long-term market cap growth.

Keep tabs on this watchlist here (which tracks projects with at least $500M market caps) and see which coins pop on to the weekly leaderboard for this vital metric.

📉 There was a major increase in memecoin discussions yesterday as coins like Dogecoin and Bonk were surging. Typically, markets correct when focus shifts away from layer 1's and toward more speculative assets due to greed. Today, unsurprisingly, market-wide dips are occurring.

🐶🤕 Meme coins like Dogecoin (+12%) and Bonk (+13%) have been major stories Wednesday, with spikes in prices across the sector. Speculative assets continue churning as Bitcoin profits get redistributed. Altcoins can continue to grow as long as crowd FOMO doesn't get in the way.

🐳 Bitcoin's whale transactions have spiked to their highest level in over 10 weeks, with 11,697 $100K+ transfers on the network Tuesday, and Wednesday on pace for a high mark as well.

🗣️ Additionally, conversations across social media have veered heavily toward BTC over altcoins, with crypto's top asset making up over a quarter of all discussions. Traders are heavily on prices after exceeding $68K for the first time since July.

Both of these signals are signs that the rally may be on hold due to key stakeholder profit taking and high crowd FOMO. However, with mid and long term metrics still looking bullish, any price correction would likely be a short one. 👍

🧑‍💻 Here are crypto's top 10 DeFi projects by development. Directional indicators represent each project's ranking positioning since last month:

➡️ 1) Synthetix $SNX 🥇
➡️ 2) dYdX $DYDX 🥈
➡️ 3) Lido DAO $LDO 🥉
➡️ 4) Injective $INJ
📈 5) Uniswap $UNI
📈 6) Fox $FOX
📉 7) Osmosis $OSMO
📈 8) Maker $MKR
📈 9) Origin $OGV
📈 10) Sora Validator Token $VAL

Read about Santiment's methodology for covering development activity for over 3,400 projects!

📺 Looking for some easy ways to identify how greedy or fearful your fellow crypto community members are leaning? Our latest video provides links to our 5 favorite ways to analyze how the crowd causes tops and bottoms, with demonstrations!

📈📉 $70K Bitcoin may still be in crypto's near future, but the rally toward this coveted price level quickly pumped the brakes after a bullish sentiment outbreak from the crowd Tuesday.

🤓 Data on Santiment continues picking up bottoms forming on high frequencies of $50K-$59K BTC mentions across social media, and tops forming on high frequencies of $70K-$79K BTC mentions.

📊 Friendly reminder that markets move, and will continue to move, in the opposite direction of the way the majority of the crowd is predicting. Think independently, and avoid the 'crowd think' traps.

🔗 Here's the link to this chart to track this type of crowd hype & fear any time!

🐶📉 Dogecoin holders are rapidly falling in number. Since October 8th, there has been a net drop of -106.6K non-empty DOGE wallets. Traders have expressed frustration toward the largest meme coin's performance, and have been increasingly looking elsewhere for quick pumps.