Small-cap cryptos gaining momentum as major assets recover

The number of active addresses for small-cap digital assets has risen as some major cryptocurrencies rallied with the start of the new year.

According to data provided by the on-chain analytics and intelligence platform, Santiment, some of the tokens that have gained more addresses are ChainBing (CBG), Morpheus Labs (MITX), Monetha (MTH), TRADE, PulsePad (PLSPD), Ribbon Finance (RBN), Smooth Love Potion (SLP) and Marlin Protocol (POND).

🤏 With large caps like #Solana, #Cardano, & #Polkadot drawing impressive return headlines the first 3 weeks of January, money now appears to be cycling to small caps. Active addresses are up big for $CBG, $MITX, $MTH, $TRADE, $PLSPAD, $RBN, $SLP, & $POND. https://t.co/VEJcMMgS6W pic.twitter.com/kujs1Px4al

— Santiment (@santimentfeed) January 24, 2023

Per the data, these addresses have gained momentum after Jan. 15. Some have been consecutively growing.

The number of active wallets holding ChainBing rose to eight on Jan. 21, but suddenly dropped to zero in a few hours. Quite similarly, MITX’s addresses rose to 153 on Jan. 18 and started to plunge slowly to 92 in the past 24 hours, according to Santiment.

On the other hand, MTH, RBN and SLP had positive moves since Jan. 1. The number of active addresses for these assets stands at 8, 157 and 309, respectively.

The price actions of MTH, RBN and SLP over the past week have also been looking green. MTH rose from $0.007 to $0.00828 in the last seven days and is up by 11.42% in the past 24 hours.

Moreover, RBN’s green movement started from $0.19 on Jan. 19 and currently trading at $0.27, up by 6.3% in the past 24 hours. SLP has also been moving in the green zone as the total crypto market cap recovered from the $797 billion mark to $1.058 trillion at the time of writing, according to CoinMarketCap (CMC) data.

SLP is trading at $0.0032, a notable movement from $0.0025 on Jan. 19, up by 7.5% in the past 24 hours.