The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

One Metric Is Flashing a Bullish Signal for Bitcoin and Ethereum, Says Crypto Insights Platform IntoTheBlock

by Daily Hodl Staff
December 3, 2022
in Bitcoin, Ethereum, Trading

A leading analytics platform says that one crucial metric is flashing a bullish signal for Bitcoin (BTC) and Ethereum (ETH).

IntoTheBlock says the number of daily active addresses for both Bitcoin and Ethereum dropped off after surging above $60,000 for the first time in May 2021.

The analytics firm now notes that the number of active addresses for BTC and ETH are stabilizing, indicating that more people are using the top two crypto today than before the previous bull run.

“For Ethereum and Bitcoin, there was a clear drop off in daily addresses, after the May 2021 [high] for prices. The active addresses stabilized quickly and have been at consistent levels since then…

We see around a 36% increase in active addresses for Ethereum (327,000 addresses on March 8th, 2020 compared to 514,000 addresses on December 1st, 2022). Bitcoin has seen more modest gains with about [a] 20.6% increase in active addresses (826,000 on March 9th, 2022 compared to 1.04 million on December 1st, 2022).”

Source: IntoTheBlock/Medium
Source: IntoTheBlock/Medium

The market intelligence firm tracks daily active addresses on its analytics app, which measures how many wallets have made at least one transaction in a given day. More active addresses indicates wider adoption, according to the analytics firm.

The analytics firm also says that the stability in the number of active addresses for BTC and ETH has occurred despite the troubling macroeconomic conditions during the past year.

“The increases in new active addresses since the price all-time highs in November of 2021 are promising. Even with the chaos in the markets in 2022, the number of active users has remained relatively stable over the last year.

This could indicate that we are at or near a market cycle bottom for active addresses and therefore at or near the bottom of user attrition… Barring a black swan event, it seems that we have found what resembles a bottom for active addresses.”

At time of writing, Bitcoin is changing hands at $17,050 and Ethereum at $1,288.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/SF Textitle Design

Submit a Press Release

Industry Announcements

  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,458.29
$23,458.29
0.04%
Ethereum
$1,679.01
$1,679.01
1.2%
Cardano
$0.404589
$0.404589
0.33%
XRP
$0.41498
$0.41498
1.35%
Dogecoin
$0.097751
$0.097751
6.3%

Spotlight

  • Institutions Pour Capital Into Bitcoin (BTC) at Highest Rate Since July of Last Year: CoinShares
    January 30, 2023
  • Ethereum-Based Decentralized Exchange Token Explodes 50% As Project Releases Yearly Report
    February 2, 2023
  • Trader Who Accurately Predicted 2023 Bitcoin Burst Updates Forecast on BTC and Ethereum
    January 28, 2023
  • Ripple Working With Central Bank of Montenegro on New Digital Currency Pilot Program, According to Prime Minister
    January 31, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl