• Small-cap digital assets have seen an increase in active addresses as some major cryptocurrencies have started to rally in the beginning of the year.
• ChainBing (CBG), Morpheus Labs (MITX), Monetha (MTH), TRADE, PulsePad (PLSPD), Ribbon Finance (RBN), Smooth Love Potion (SLP) and Marlin Protocol (POND) have seen an increase in active addresses.
• The prices of MTH, RBN and SLP have all trended upwards since Jan. 1.
As we move into the new year, there is evidence that small-cap digital assets are gaining momentum. On-chain analytics and intelligence platform Santiment has recorded an increase in the number of active wallets holding small-cap tokens such as ChainBing (CBG), Morpheus Labs (MITX), Monetha (MTH), TRADE, PulsePad (PLSPD), Ribbon Finance (RBN), Smooth Love Potion (SLP) and Marlin Protocol (POND).
The rise in active addresses began around Jan. 15, with some of these tokens seeing consecutive growth. ChainBing saw its active addresses jump from zero to eight on Jan. 21, before dropping back to zero in a few hours. Morpheus Labs similarly saw its active addresses increase from 153 to 92 in the past 24 hours.
The prices of MTH, RBN and SLP have all trended upwards since the start of the year, with MTH rising from $0.007 to $0.00828 in the last seven days and up 11.42% in the past 24 hours. RBN has seen a strong green movement since Jan. 19, climbing from $0.19 to $0.2096. SLP has also seen an increase in its price, rising from $0.0088 to $0.0098 in the past seven days.
The increase in active addresses and positive price movements of these small-cap digital assets indicate that they are gaining momentum as major assets recover. This could be an interesting trend to watch as we move forward into the second half of the year.
