Bitcoin addresses take an extreme nose dive

Bitcoin addresses take an extreme nose dive
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2023-5-8 15:30

Quick Take Even though Bitcoin is seeing record transaction counts due to the rise of BRC-20 tokens, addresses show a negative correlation. Currently, active and new addresses are approaching the 365-DMA, which shows participants coming into the network and have been for the better part of the last six months as we have been above the 365 DMA. New addresses are defined by the number of unique addresses that appeared for the first time in a transaction of the native coin in the network. While active addresses are defined as the number of unique addresses that were active in the network, either as a sender or receiver, only addresses that were active in successful transactions are counted. Active addresses are currently at 856,000, as low as October 2021, while new addresses are roughly 408,000 lowest recorded number year to date. Address: (Source: Glassnode) Address: (Source: Glassnode)

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