On-chain data shows growing interest in Ethereum: Ethereum has been gaining traction in the crypto market, with its current market cap surpassing that of major companies like PayPal and Netflix. This has been fueled by the growing interest in decentralized finance (DeFi) and non-fungible tokens (NFTs), both of which are built on the Ethereum blockchain. As a result, the demand for Ethereum has been increasing, evident in the rising number of active addresses and transactions on the network. Altcoins follow Ethereum's lead: As the second-largest cryptocurrency, Ethereum often sets the tone for the rest of the market. When it experiences a significant drop, altcoins tend to follow suit. This is because many altcoins are built on the Ethereum blockchain and rely on its performance. However, as the market stabilizes, altcoins like BTC , XRP , and LTC are recovering and showing promising signs of growth. The impact of trending hashtags: Social media plays a crucial role in th...
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