- Santiment revealed in a tweet today that ETH gained more than 4.9% against BTC in the past month.
- The firm attributed ETH’s strong price performance to its recovering network growth towards the end of July.
- At press time, however, ETH was down 1.93% to trade at $1,828.24.
Santiment, the blockchain intelligence firm, revealed in a tweet this morning that Ethereum’s (ETH) price has gained more than 4.9% against Bitcoin (BTC) over the past month. According to the post, the rebound in Ethereum’s network growth was the main contributing factor to the altcoin’s price gain.
#Ethereum's market price has gained +4.9% against #Bitcoin over the past month, and rebounding network growth has had a lot to do with this. As July closes, $ETH is showing utility numbers more consistent with May and its then price dominance vs. $BTC. https://t.co/zdgrhsk48N pic.twitter.com/o3MiLi91IJ— Santiment (@santimentfeed) August 1, 2023
The tweet added that Ethereum recorded 450K addresses, which was the highest number of addresses on the network in 2 weeks. Furthermore, 80K new addresses were created towards the end of last month.
At press time, ETH was changing hands at…
The post ETH’s Recovering Network Growth Sees Its Price Gain Against BTC appeared first on Coin Edition.
The post ETH’s Recovering Network Growth Sees Its Price Gain Against BTC appeared first on Coin Edition.