Cryptocurrency traders, you need to pay attention to these trading signals! According to the on-chain data tracked by dapp.com, 4 top tokens Ren $REN, SushiSwap $SUSHI, Uniswap $UNI and Aave Protocol $AAVE experienced significant changes in their Active Address and Transfer Volume last week.
Active Address ⬇️
The 90d token data dashboards demonstrate that the REN price curve moves in a similar trend with REN’s active address curve in the long term. When the active addresses increase, REN price is likely to go up as well.
How has REN's active address changed in the last 7 days?
REN’s 7d active addresses largely decreased by 20.37%. Be aware of this bearish signal.
Again this week, we spotted the fall of UNI’s active address.
UNI’s 7d active address decreased 22.25%. Be careful of the price correction.
Active Address & Transfer Volume ⬇️
From the 90d Token Dashboards, you can find that SUSHI price has a close correlation with SUSHI’s active address and transfer volume. When active address and transfer volume hit a peak, the SUSHI price also seems to increase.
Both SUSHI's active address and transfer volume dropped in the past 7d.
SUSHI’s 7d active address -19.28%; transfer volume -26.78%. You might predict the SUSHI price based on the active address and transfer volume loss.
Aave Protocol AAVE
It can be clearly seen from the 90d Token Dashboards that AAVE price is highly correlated with UNI’s active address and transfer volume in the long term.
We might get a trading signal for AAVE from the 7d performance.
AAVE’s 7d active address -25.42%; transfer volume -10.29%, which could be a bearish signal.
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