Decline In Bitcoin Active Addresses Suggests Market Is Purging Paperhands
With the bitcoin bull market back in 2021 had come a lot of what is referred to as ‘bitcoin tourists’. These are investors who are moved by the gains being made in the market and begin to FOMO (fear of missing out) on the digital asset as the price grew. Now that the bear market […]
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Ethereum active addresses have continued to decline. This follows the market crash where the price of Ethereum had dropped to below $1,000 before staging another recovery. This decline has shown various implications for the digital asset and also points towards how investors could be feeling towards the digital asset. Activity Falls To 2020 Lows Data from the Block shows that the active addresses on the Ethereum network on a seven-day basis are down. These active addresses had hit a new all-time high back in June 2021 when the bull market had been in full bloom. The rise in active....
The number of bitcoin active addresses had declined following the September market crash but promptly picked up again in October. At the beginning of December, another dip rocked the market that sent addresses plummeting once more. The number had dropped well below the one million mark for the majority of November and stayed low during the bull rally. Despite the red trends recorded by the market, the first week of December has proven to be good for the market. The number of bitcoin addresses rose significantly in the last seven days, putting bitcoin well above the one million mark once....
Bitcoin daily active addresses are on the rise. This has followed the uptick in price after the market crash. As time has gone on and the price has been down for a while, investors are taking this to be a time where they can stock up on the digital asset for cheap. This has led to a high number of daily addresses, and this has continued, indicating that there are bigger things to come. 1 Million Active Addresses In Three Days On-chain analysis firm Santiment recently published a report detailing the number of bitcoin daily active addresses. This number had seen a significant uptick this....
As the bear market continues to linger, analysts have weighed in on the decline of the flagship cryptocurrency, Bitcoin, and the crypto market, by extension. This time, another crypto analyst has explained what is influencing Bitcoin’s price decline. Factors Causing BTC’s Decline Bitcoin notably dropped below the $27,000 level on October 12. Addressing this decline in a recent episode on the ‘Cheeky Crypto’ YouTube channel, Crypto analyst Nick noted that there wasn’t much going on in the news and the only thing that could have affected Bitcoin’s drop was the US inflation data, which....
Following the volatility of the weekend, Bitcoin holders seem to have woken up as active addresses break one million. Number Of Active Bitcoin Addresses Reach Seven-Month High As per the latest weekly report from Arcane Research, the crash during the weekend woke up sleeping Bitcoin investors as the number of active addresses observes a significant increase. The “number of active addresses” is a Bitcoin indicator that measures the amount of addresses that showed some activity on the chain during a particular day. If an addresses makes more than one move in a given day, the....