Bitcoin (BTC) network activity has significantly declined in the creation of new addresses, hitting its lowest point since July 2018.
Despite this, though, BTC is trading around $67,000 after gaining over 7% in the past week.
Bitcoin Network Activity Declines
Data from the market intelligence platform IntoTheBlock reveals a 7-day average of only 276,000 new Bitcoin addresses. The low numbers show a significant decline in new investors entering the crypto space, a sharp drop from 625,000 six months ago.
Someone should address the bear in the room
The number of new $BTC addresses is hitting multi-year lows. The 7-day average dropped to 276k last week, a level we haven’t seen since July 2018.
Is this because ETFs are acting as a proxy for new users? Are people moving… pic.twitter.com/1v9JeauxQG
— IntoTheBlock (@intotheblock) May 17, 2024
The “New Addresses” indicator tracks the daily creation of new wallets on the BTC network. High metrics typically signify an influx of new inv
We współpracy z: https://cryptopotato.com/bitcoin-network-sees-lowest-new-addresses-created-since-2018/
