📈 This week, the #Ethereum network is seeing its highest ratio of profitable #onchain transfers since November, with a 2.3 to 1 ratio of coins moving at a profit vs. loss. Meanwhile, #Bitcoin's ratio is also quite high at 1.8 to 1. #Cardano is one of the few seeing more loss transactions than profitable ones.

Generally, high profit taking is a decent mid-term signal for local tops potentially being on the horizon, as was illustrated when we saw a similar #crypto market setup for this Santiment metric back in late November.

Explore the link to this chart, and feel free to insert other projects you may be interested in!

📊 With #crypto markets soaring to new heights, and many market caps exceeding levels last seen in 2021 or 2022, large cap project trading volumes have reached their highest level since the collapse of #FTX. #Bitcoin, in particular, is seeing a significant surge both on exchanges and via Spot #ETF's.

Historically, we have seen these massive spikes associated with temporary tops or bottoms. More organic growth in trading volume is generally preferred when identifying signals for continued market cap growth. Note that this major rise in volume is coinciding with a 4:1 ratio between profit taking and loss taking.

🧑‍💻 Here are #crypto's top projects, sorted by notable #github activity in the past 30 days:

1 Internet Computer $ICP
2 Cardano $ADA
T3 Polkadot $DOT
T3 Kusama $KSM
5 Optimism $OP
6 Hedera $HBAR
7 Status $SNT
8 Cosmos $ATOM
9 Ethereum $ETH

10 Sui $SUI

Read about the Santiment methodology for filtering by notable #github activity here!

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📊 The past 7 days of #crypto trading volume has totaled $288B, according to our 2,842 tracked assets. This is a -22% drop compared to last week. Traders are showing decision paralysis, and #FOMO or #FUD should return once we see the next big market swing.

🐻 With #crypto market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle began in October, there is a notable #bearish sentiment that has taken hold of #crypto discourse this week.

#Bitcoin, #Ethereum, #BinanceCoin, #XRPLedger, #Cardano, and #Solana are all uniformly in a more negative crowd sentiment range than their historic averages. This is the first time in over 6 months that this has occurred.

When traders become concerned and show #FUD across multiple large assets, it is a signal that market caps have a higher likelihood of seeing an impending bounce. Markets historically move in the direction of the crowd's least expected direction, making a rise catch many #short traders off guard.

Check out the link to our weighted sentiment comparison chart!

Bulls and bears are fighting to keep Bitcoin on their respective side of $40K as we speak. Our latest video explores the short-term metrics, and what they are telling us $BTC and other top caps are most likely going to do after reaching 7-week lows!

📊 As the weekend has kicked off, sentiment toward top cap assets remain at extremely optimistic levels with spotlights on them following the #ETF approvals. Traders are particularly #bullish toward #Ethereum after its market value climbed above $2,700 for the first time since May, 2022. There is also a notable #bull bias toward #Bitcoin and #XRPNetwork.

While traders are discussing the possibility of $ETH or $XRP #ETFApproval possibilities, #Cardano is overlooked compared to its normal level of trader optimism.

Link to chart!

With the #ETF approvals came an immediate altcoin party breakout. Meanwhile, #Bitcoin has stayed relatively quiet. Will this trend continue? Our latest video discusses the push for another #altseason & trader euphoria following the big news!

📊 Amount of wallets with >0 coins for #crypto's select notable networks:

📈 $BTC 52.6M: +32% 1y growth
📈 $ETH 112.1M: +54% 1y growth
📈 $XRP 4.9M: +26% 1y growth
📈 $ADA 4.5M: +38% 1y growth
📈 $DOGE 5.7M: +22% 1y growth
📈 $LINK 711.3K: +11% 1y growth

📈 #Bitcoin's amount of wallets holding >0 coins is up to 916.75M, which is a +1.8% increase in just a 10 day span. Other top cap assets, including #stablecoins like #Tether and #USDCoin, are also seeing an increased rate of growth as a result of this 2+ month #bullrally.

Though network growth is a great sign long-term, this rapid rate of new wallets is a #FOMO sign to be slightly cautious of. Link to chart!

You can enjoy a free trial to Sanbase PRO here to see what others in #crypto can't. Tap into all of the great metrics and indicators here!