Number Of Active Bitcoin Addresses Reach Seven-Month High
As per the latest weekly report from , 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.
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Now, here is a chart that shows the trend in the value of the number of active addresses over the past year:Looks like the value of the indicator has been moving up for a while | Source:
As the above graph shows, the number of active Bitcoin addresses saw a sharp spike recently. The crash in the crypto’s price during the weekend was responsible for this sudden rise in the metric’s value.
Currently, the indicator’s value is above 1 million, the highest it has been in the past seven months. The last time higher values were seen was back in May, following the crash.Related Reading | Majority Of Bitcoin Investors Got In This Year, Says Grayscale
As the market cooled down, there were only about 750k active addresses left by July. Since the bottom in that month, the indicator has been gradually rising in value. It’s yet unclear if the current high values will continue to rise, or if the indicator’s value will once again drop down as the market calms down from the weekend’s volatility.BTC Price
At the time of writing, Bitcoin’s price floats around $49k, down 24% in the last month. The below chart shows the trend in the price of BTC over the past five days.
BTC still in consolidation? | Source:
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research