Mid-Cap Ethereum and Solana Rival Flash Bullish Signal

A blockchain analytics platform called Santiment predicts that Aptos (APT), the native token of smart contract-enabled blockchain, could experience an upward trend.

Santiment bases this prediction on Aptos’ recent partnership with software maker Microsoft to work on artificial intelligence (AI) and web3 projects.

The crowd initially showed a lot of excitement (FOMO) after the announcement, but has since calmed down.

However, there is an increase in trading volume and developer activity, which suggests that Aptos may reach another higher high. As of writing, Aptos is trading at $7.12, which is a 7% increase over the past seven days.

Santiment also says that Shiba Inu (SHIB) is performing relatively better compared to other mid and low-cap altcoins as traders increasingly turn their attention to the second-largest memecoin.

“Prices are mildly up for altcoins today, but most mid and small caps are still struggling to gain any traction on the weekly time frame. Many traders have shifted their focus to Shiba Inu, as the memecoin is one of the few bright spots. SHIB is +19% with rising social volume.”

At the moment of writing, Shiba Inu is trading at $0.0000118, showing an increase of more than 12% in the last 24 hours.

According to Santiment, Ethereum (ETH) – the second-largest cryptocurrency by market cap – is seeing its top ten addresses expanding and accumulating more than one-third of the available coin supply.

Over five years, the top ten largest addresses have increased their ownership from 11.2% to 34.6% of ETH, and the current 27.86 million ETH worth $51.6 billion have been added.

In other recent news, according to Cheong, Lido (LDO), a crypto-staking solution, is currently undervalued and has room for expansion. Cheong notes that the liquid staking market is attracting investors due to its lack of volatility and ability to generate substantial revenue.

The liquid staking market is closely tied to the value of the chains that the protocols service. The top five smart contract chains that use liquid staking protocols generate over $800 million in annual revenue.