Over the past week, the crypto market has experienced an explosive upsurge with Bitcoin [BTC] hitting a new ATH of $81k.
Cryptocurrency FET has witnessed a 172.7% surge in large transactions, defined as those valued at $100k or more, indicating significant activity by large holders and whales. This suggests a high demand for FET and potential accumulation by big players in the market.
The surge in large transactions is accompanied by a 142.4% increase in active addresses over the past week, indicating a high level of engagement with the cryptocurrency. This suggests that the current price rally is driven by market fundamentals and traders' interest in the coin, rather than mere speculative investments.
Furthermore, the active addresses have surged by 44.02% in the past 24 hours, showing a rapid increase in the number of active participants in the FET network. This surge in activity is a positive sign for the cryptocurrency, indicating a strong community and a network that is being used.
Together, these metrics suggest a strong upward momentum for FET, which is being driven by both large holders and retail traders. The cryptocurrency is currently trading at $1.50, exhibiting a 1.20% increase in 24 hours and a 32.68% surge in 7 days.
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