Cryptocurrencies pepe (PEPE), Fetch AI (FET) and Ethereum Name Service (ENS), had spikes in their on-chain activity simultaneously.
According to analysts at the firm Santiment, one of the indicators that caught attention is the increase in the creation of new wallets for each of these Ethereum tokensas seen in the following graph from April 1 to June 30.
Increased on-chain activity in PEPE, FET and ENS. Source: Santiment. This indicates an increase in the interest and adoption of these assets due to a potential future price increase, despite the fact that the market is trading downwards. In this sense, it is highlighted that this increase in ENS activity may end up causing fear of missing out on an opportunity (FOMO) in the face of a possible price increase for these assets. The governance token of the Ethereum Name Service platform is still is far from its all-time high (ATH) of $83which was recorded on November 11, 2021. However, and as BitcoinDynamic reported, this asset has had a notable growth in the period indicated in the Santiment graph. Among these increases, the 18% that was recorded on June 19, 2024, when it went from $22 to $26, stands out. At the time of publication of this note, its price is $24.67.
ENS price from April 14 to July 4. Source: CoinGecko. In the case of PEPE, the memecoin that pays homage to a frog very popular in cryptocurrency culture, it has attracted great interest since its launch due to the speculative market looking for profits. In the period indicated in the Santiment chart, The meme coin reached its all-time high (ATH) of 0.00001725 dollars (USD) on May 27, 2024. At the time of publication of this note, its price is 0.00000971.
PEPE price from April 12 to July 4. Source: CoinGecko. As for FET, specialists predict greater volatility once the Artificial Superintelligence Alliance (ASI) is launched, the merger of this token with the artificial intelligence cryptocurrencies SingularityNET (AGIX) and Ocean Protocol (OCEAN). This union was conceived with the objective of boosting the development of a decentralized artificial intelligence platform. In addition, it was reported that, will have a diluted value of around $7.6 billion. ASI's presentation will be on July 15th.