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Analytics Firm Santiment Points to ‘Historic’ Signals on Ethereum and Solana, Says Cardano Can Run Higher

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Starting with Ethereum, Santiment highlights that Ethereum miners have been stacking ETH aggressively throughout the asset’s recent recovery from its three-month low of $1,707.

Ethereum miner balances have absolutely skyrocketed in August, essentially tripling from 81,512 ETH to 243,000 ETH today (+198%). The historic reversal in miner coins held has reversed from an [all-time low] in late July to a virtual three-year high today.”
The second-largest crypto asset by market cap is currently trading at $3,388, up 3.8% on the day according to CoinGecko.
As for Solana, Santiment’s weighted sentiment tracker analyzes the positive and negative commentary surrounding a crypto asset. The analytics firm notes that crowd positivity surrounding Solana is reaching historically high levels.
Santiment adds that as SOL has blasted off to new all-time highs, so has the conversation surrounding it.
At the time of writing, Solana has pushed beyond $106.82 and briefly tapped the $130 level before cooling off. Currently, the asset is trading at $111.86.
Taking a look at Cardano, Santiment highlights that social dominance tends to be a reliable indicator for ADA’s price action. According to Santiment, Cardano’s decreased social dominance puts it in a position to launch another surge.
“Cardano is back to its pumping ways on a bullish Friday. Social dominance is a great leading indicator for ADA, and the percentage of discussions is at a modest 8% compared to a peak of 25% last week. It can run higher until the crowd euphoria returns.”

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