Santiment, a well-known analytics firm, has reported that several low-cap altcoins are experiencing a significant increase in the number of new wallets being created in the past week. The artificial intelligence (AI) related crypto project IQ.wiki (IQ) is leading the pack with a remarkable 2,500% surge in new wallets created.
IQ is described as the go-to source for objective and high-quality knowledge on blockchain and cryptocurrencies. Using AI technology, IQ scales its content and summarizes wiki articles. Currently ranked as the 430th largest crypto project, IQ has a market cap of $154 million.
Following closely behind is CARV (CARV), which saw a 1,800% increase in new wallets created within a week. CARV is a modular data layer that empowers users to manage their data in the gaming and AI sectors. With a market cap of over $130.78 million, CARV is ranked as the 474th largest crypto project.
In third place is Frax (FRAX), a decentralized finance (DeFi) ecosystem offering stablecoin, liquid staking, and other financial products. FRAX experienced a remarkable 1,283.33% growth in new wallets created over the past week. Currently ranked as the 155th largest crypto project, FRAX has a market cap exceeding $647 million.
Safe (SAFE) takes the fourth spot with a 931.58% increase in new wallets created. Safe is a smart contract wallet that prioritizes the protection of users’ crypto assets by requiring multiple signatures for transaction processing. With a market cap of $478.69 million, SAFE is ranked as the 191st largest crypto asset.
Other notable crypto projects that saw a significant surge in new wallets created include Power Ledger (POWR), Raydium (RAY), Metal (MTL), SmarDEX (SDEX), and DevvE (DEVVE).
Santiment emphasizes that projects displaying network growth often precede price rallies. They advise investors to be patient, wait for Bitcoin to generate profits, and take advantage of promising projects like these.
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