Three Ethereum (ETH)-based altcoin projects are seeing a massive increase in network activity, according to blockchain analytics platform Santiment.

Santiment said that address activity is up for Render (RNDR), the graphics processing unit (GPU) rendering blockchain, Aave (AAVE), money market protocol and decentralized finance (DeFi) protocol Maker (MKR).

“Render, Aave, and Maker are the three most notable altcoins that have seen an increase in address activity in recent days amidst the many increases in market cap. Historically, an increase in the number of wallets interacting on networks is a sign of future bullish behavior.”

Source: Santiment/X

Render is trading at $6.39 at the time of writing, up slightly over the past seven days. Meanwhile, Aave is trading at $103.45 at the time of writing, up over 23% over the past week, and Maker is trading at $2,912, up over 28% over the past seven days.

Then, Santiment notice mentions of XRP and Litecoin (LTC) on social media platforms are skyrocketing, indicating that a price rebound could be imminent.

“As cryptocurrencies continue their incredible rally across the market, keep a close eye on Litecoin and XRP, two cryptocurrencies that are experiencing high levels of FOMO (fear of missing out). These cryptocurrencies may continue to rise, but the euphoria of the crowd towards these assets could make them high-risk, high-reward investments this week.”

Source: Santiment/X

At the time of writing, Litecoin is trading at $72.26, up 2.4% over the past 24 hours. Meanwhile, XRP is trading at $0.56 at the time of writing, up nearly 7% on the day.

Then, Santiment said that Bitcoin (Bitcoin) is the most talked about digital asset after its sudden price surge on Monday, indicating more upside potential. The company also claims that Solana (GROUND)-memecoin based on Popcat (POPCAT) could go parabolic based on online discussions.

“Bitcoin sentiment showed signs of greed and FOMO after rising +8.7% [Sunday and Monday]. The comments are 49% positive, 21% neutral and 30% negative for the cryptocurrency with the largest market cap. Also keep an eye on Popcat, a booming cryptocurrency that is attracting serious interest from traders.

Source: Santiment/X

At the time of writing, Bitcoin is trading at $63,481, up slightly over the past 24 hours. Poppet is trading at $0.81 at the time of writing, up 8.2% on the day.

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Ethereum co-founder Vitalik Buterin on Wednesday warned against choosing a candidate solely on the basis of his or her alleged “pro-crypto” stance. In a blog postButerin said it’s more important to look at a candidate’s broader policies to make sure they support cryptocurrency’s underlying goals, including internationalism and protecting private communications.

“If a politician is pro-crypto, the key question to ask is: Are they there for the right reasons?“Do they have a vision of how technology, politics and economics should evolve in the 21st century that matches yours?”

While Buterin did not mention any politicians or cryptocurrency investors by name, his comments come just a day after those from Marc Andreessen and Ben Horowitz. have given their support The founders of Andreessen Horowitz said on their podcast yesterday that Trump’s cryptocurrency regulation plan is “a complete and total endorsement of the entire industry.” These influential venture capitalists join the ranks of other notable Silicon Valley players, including Elon Musk, who endorsed Trump last week.

Additionally, the Ethereum co-founder argued that signaling that you broadly support “pro-crypto” candidates could incentivize politicians to promote the cause in bad faith. Buterin notes that authoritarian leaders, particularly in Russia, have pretended to support crypto in an effort to consolidate their power.

“It doesn’t matter if they also support banning encrypted messaging, are power-seeking narcissists, or are pushing for bills that make it even harder for your Chinese or Indian friend to attend the next cryptocurrency conference — all politicians have to do is make it easy for you to trade coins,” Buterin said.

Five years ago, the Ethereum co-founder suggested studying a “crypto-friendly” politician’s views on crypto. He says this can serve as a guide to whether the politician might change their mind in five years.

Notably, former President Trump strongly opposed decentralized tokens five years ago. tweet In July 2019, Trump said he was “not a fan of Bitcoin and other cryptocurrencies, which are not money.” In a follow-up tweet, he said, “We only have one real currency in the United States,” referring to the U.S. dollar.

But in May, Trump completely changed his stance on cryptocurrencies, becoming the first major presidential candidate to accept bitcoin donations. The Wall Street Journal reports that Trump’s cryptocurrency fundraising efforts raised $3 million in donations in the second quarter.

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Ethereum (ETH) supply on exchanges has hit 34-month highs as the asset’s price surpasses the $3,500 mark.

ETH Bitcoin’s price has increased by 2.3% in the past 24 hours and is trading at $3,490 at the time of writing. The second-largest cryptocurrency, with a market cap of $419 billion, briefly hit an intraday high of $3,517 earlier today.

ETH Price, Whale Activity, RSI and Supply on Exchanges – July 17 | Source: Santiment

Ethereum’s daily trading volume also increased by 7.6%, reaching $19.8 billion.

According to data provided by Santiment, Ethereum’s supply on exchanges has reached $19.52 million ETH. This level was last seen in September 2021, when the asset was trading at around the same price.

On the other hand, data from the market intelligence platform shows that the number of whale transactions dropped by 12% over the past day, from 8,730 to 7,629 unique transactions per day.

The move shows that Ethereum supply on exchanges has increased with small deposits rather than large whale transactions.

Additionally, ETH’s Relative Strength Index (RSI) is currently hovering around 60, according to Santiment. The indicator shows that Ethereum is slightly overbought at this price level, but may not be in a critical position due to its large market cap.

One of the major price factors driving the Ethereum price surge is expectations for ETH spot. AND F In the United States, investment products are scheduled to start trading July 23.

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Buterin’s post comes as Donald Trump, who has positioned himself as the pro-crypto presidential candidate, rallies his party members at the Republican National Convention in Milwaukee, and one day later Venture capitalists Marc Andreessen and Ben Horowitz have told Andreessen Horowitz (a16z) employees that they plan to make significant donations to political action committees supporting Donald Trump campaign.

In an episode of “The Ben & Marc Show,” In an interview with The Guardian, Horowitz said that the Biden administration, in the form of the US Securities and Exchange Commission and the Federal Deposit Insurance Corporation, has “fought” them every step of the way using “very nefarious means.”

“They’ve sued over 30 of our companies, I think,” Horowitz added. “They lose almost all of their cases, but the problem is when you’re a startup, you don’t have the money to fight the U.S. government, and so they’re kind of destroying the industry that way.”

Fairshake, a super PAC backed by the largest cryptocurrency companies, is now one of the biggest spending PACs this election cycle. Of the $160 million in total contributions it has raised, 94% can be traced to just four companies: Ripple, Andreesen Horowitz, Coinbase and Jump Crypto.

“There is a particular style of ‘crypto-friendliness’ common to authoritarian governments that we should be wary of. The best example is, predictably, modern Russia,” Buterin added. a coder born in Russia who built Ethereum in his late teens.

Tesla CEO Elon Musk and venture capitalist Peter Thiel, as well as cryptocurrency industry leaders like Tyler and Cameron Winklevoss, have also endorsed Trump.

Technologists, cryptocurrency industry executives and venture capitalists gathered in San Francisco in early June to discuss paid up to $300,000 per ticket to join a fundraiser for Trump that ultimately raised over $12 million.

“In particular, by publicly giving the impression that you support ‘pro-crypto’ candidates simply because they are ‘pro-crypto,’ you help create an incentive gradient where politicians eventually figure out that all they need to get your support is to support ‘crypto,’” continued Buterin, who is known for periodically publishing longer essays opining on existential threats to the broader ecosystem.

Buterin did not name any political candidates or people who have chosen to support them in his message.

Trump, who launched his latest collection of non-fungible tokens on the Solana blockchain in April, made increasingly optimistic crypto comments.

He is accept digital currency donations and has pledged to defend the rights of those who choose to self-custody their cryptocurrencies, meaning they don’t rely on a centralized entity like Coinbase to hold their tokens and instead do so in personal crypto wallets, which are sometimes beyond the reach of the Internal Revenue Service. Trump also pledged at the Libertarian National Convention in Washington in May to keep Sen. Elizabeth Warren, a Democrat from Massachusetts., and “his henchmen” away from bitcoin holders.

Meanwhile, after a meeting with bitcoiners at Mar-a-Lago with a dozen mining executives who promised him money and votes, Trump said that all future bitcoins will be minted in the United States, if he returns to the White House.

On Monday, the Republican presidential candidate added Ohio Sen. J.D. Vance to his vice presidential ticket — a move seen by many as a clear win for the crypto industry. Vance has advocated for looser regulation of crypto and revealed in 2022 that he personally holds Bitcoin.

This is in stark contrast to the Joe Biden White House, which has been seen as tough on cryptocurrencies. Under Biden, the SEC has stepped up its enforcement on the sector, and even in the absence of strict rules from Congress, the US has proven to be one of the most active countries in enforcing sanctions and legal measures against crypto companies.

The angrier the crypto industry got at the SEC for arresting and prosecuting them, the more people like Vance saw an opportunity to take a stand on the opposite side of a crypto-skeptical Biden administration.

However, the perception that Biden is anti-crypto and Trump is pro-crypto worries some Biden allies enough to bring their case directly to senior White House officials.

Trump is scheduled to headline the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.

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