CandleFocus Bitcoin daily active addresses near 1m mark first time since 2021: data
2024-11-26
Author: Content Editor
Bitcoin is experiencing a surge in on-chain activity, with the number of daily active addresses approaching 1 million. This marks the first prolonged increase of this scale since 2021. Daily active addresses are an important metric for assessing user activity and adoption. The increase in addresses suggests greater usage and interest among retail investors, indicating network growth and market demand. Data also shows that nearly 460,000 addresses have accumulated over 340,000 BTC at prices exceeding $97,000, indicating a strong foundation for Bitcoin to move beyond $100,000. However, spot Bitcoin exchange-traded funds in the U.S. have seen significant outflows as Bitcoin's price fell below $93,000.
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