Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>Even though Bitcoin is seeing record transaction counts due to the rise of BRC-20 tokens, addresses show a negative correlation.</li>
<li>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.</li>
<li>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.</li>
<li>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.</li>
<li>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.</li>
</ul>
<figure id="attachment_323338" aria-describedby="caption-attachment-323338" style="width: 1199px" class="wp-caption aligncenter"><img class="wp-image-323338 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/add1.jpg" alt="Address: (Source: Glassnode)" width="1199" height="675" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/add1.jpg 1199w, https://cryptoslate.com/wp-content/uploads/2023/05/add1-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/05/add1-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/add1-768x432.jpg 768w" sizes="(max-width: 1199px) 100vw, 1199px" /><figcaption id="caption-attachment-323338" class="wp-caption-text">Address: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_323339" aria-describedby="caption-attachment-323339" style="width: 1199px" class="wp-caption aligncenter"><img class="wp-image-323339 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/add.jpg" alt="Address: (Source: Glassnode)" width="1199" height="675" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/add.jpg 1199w, https://cryptoslate.com/wp-content/uploads/2023/05/add-300x169.jpg 300w, https://cryptoslate.com/wp-content/uploads/2023/05/add-1024x576.jpg 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/add-768x432.jpg 768w" sizes="(max-width: 1199px) 100vw, 1199px" /><figcaption id="caption-attachment-323339" class="wp-caption-text">Address: (Source: Glassnode)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/bitcoin-addresses-take-an-extreme-nose-dive/">Bitcoin addresses take an extreme nose dive</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin addresses take an extreme nose dive

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