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

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brianq
Apr 5, 2021


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)




SKLENJMANAMATICSNTVT
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brianq
Apr 5, 2021

Thanks for reading!

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Assets from this insight

Enjin Coin logo

Enjin CoinENJ

$ 1.69

7.40%in last 7d
SKALE Network logo

SKALE NetworkSKL

$ 0.463295

12.99%in last 7d
Decentraland logo

DecentralandMANA

$ 0.856688

2.74%in last 7d
Polygon logo

PolygonMATIC

$ 1.40

1.26%in last 7d
Sentivate logo

SentivateSNTVT

$ 0.007136

7.07%in last 7d