- Wrapped Ethereum peaked in March with 4,000 new wallets, showing early dominance before stabilizing and regaining momentum in May.
- Gatechain maintained steady growth until a sharp late-May surge pushed network activity above 3,000 wallets, signaling rising investor interest.
- Maker showed stable network expansion within 200–800 units, reinforcing its position as a consistent and reliable DeFi asset throughout the period.
Wrapped Ethereum, Gatechain, and Maker are experiencing notable wallet growth following Bitcoin’s recent surge to a $112K all-time high. Santiment’s latest network data shows strong wallet creation activity across these three altcoins. The analysis spans from February 25 to May 25, 2025, capturing daily shifts in user growth and network participation. This shift indicates a redistribution of profits into emerging altcoins amid Bitcoin’s consolidation phase. Consequently, the data highlights unique behavioral trends across each network during this three-month period.
Wrapped Ethereum Leads in Early Activity
Wrapped Ethereum (WETH) demonstrated the highest volatility in network growth. Notably, it peaked around March 21, reaching nearly 4,000 new wallet creations. This surge marked the most growth event among all three assets within the timeframe. However, the network’s activity dropped in early April. From mid-April onward, it stabilized between 1,000 and 2,000 units. Besides, WETH began accelerating again in May, indicating renewed market interest.
Source: Santiment
Moreover, this recent upward trend suggests growing investor confidence in WETH’s potential. Despite earlier fluctuations, Wrapped Ethereum maintained a solid presence throughout the observation period.
Gatechain Sees Explosive Late-May Growth
Gatechain (GT) showed steady performance through most of the period. Its network growth ranged consistently between 500 and 1,500 units. Several moderate spikes occurred, notably in mid-March and late April. Each spike reached around 2,000 units.
However, GT experienced its strongest surge during the last week of May. Growth soared past 3,000 units, setting a new high. This sharp increase happened within a few days, reflecting intensified investor attention. Hence, Gatechain’s late surge suggests strong momentum entering June.
Maker Maintains Stable Expansion
Maker (MKR) showcased the most stable growth. Network activity remained within 200-800 units for most of the timeline. Occasionally, brief upticks reached 1,000 units. However, there were no major deviations, unlike WETH and GT.Additionally, MKR’s consistent performance highlights its role as a reliable DeFi asset.
While it didn’t display explosive growth, its steady pattern reinforces its long-term appeal.Besides asset-specific trends, March showed high network activity across all three altcoins. April saw a cooling-off phase. In May, Gatechain took center stage. Significantly, each asset followed a unique growth pattern, showing minimal correlation. Hence, market rotation remains dynamic, with altcoin interest shifting rapidly.
