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Active Addresses vs. Active Deposits - Which Assets are Seeing Nice Upticks?

@brianq
1 min read
05.04.2021
SKL
ENJ
MANA
MATIC
SNTVT


We recently posted about Ethereum's return above $2,000 this past week, and our explanation on one of the key contributors to why.



When active addresses move up over time for a crypto asset, while active deposits move down, it's a reliable indication of a token seeing growing utility without funds moving to exchanges for potential sell-offs. In other words, this is a very bullish pattern our pro traders look for often.


Our new Daily Active Deposits & Non-Deposit Activity Sansheets Model easily identifies which assets are developing patterns similar to Ethereum's. Here's a snapshot of which activity vs. deposit ratios are rising vs. their 3-month resting averages:


Here are some of the largest bullish divergences, according to this model. We look for high green bars (indicating large activity/deposit ratios), and large green dots on the above model, and rising orange lines on Sanbase here:


Skale ($SKL)



Enjin Coin ($ENJ)



Decentraland ($MANA)



Matic ($MATIC)



Sentivate ($SNTVT)




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Featured in this Insight

Enjin Coin ENJ

$ 0.075560
16.99%
in last 7d

Decentraland MANA

$ 0.304331
17.93%
in last 7d

Sentivate SNTVT

$ 0.000870
143.04%
in last 7d

Polygon [on Ethereum] MATIC

$ 0.212731
1.48%
in last 7d

SKALE SKL

$ 0.020211
20.8%
in last 7d
SKL
ENJ
MANA
MATIC
SNTVT

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