An Ethereum-based altcoin that rallied over 11x from this year’s bottom is now likely to witness a corrective move, according to a leading analytics firm.
BarnBridge (BOND), a blockchain protocol that aims to tokenize risk, exploded from its 2022 low of $2.18 last month to a high of $24.99 on July 24th, marking an increase of 1,046%.
Santiment says several on-chain metrics are flashing signs of significant growth amid BOND’s exponential price increase.
“Onchain activity is increasing along with price. It’s generally good. More action is able to support price trend up. [Also] It’s amount of new addresses interacting with BOND daily. Same here, new blood keep flowing into BOND. No divergence with price. Only support.”
In addition, Santiment notes that holders of 100 to 100,000