New bitcoin addresses at multi-year lows: What’s behind the decline?
Bitcoin (BTC) network activity has shown a significant downward trend in the creation of new addresses, reaching its lowest level since July 2018. Data from market intelligence platform IntoTheBlock reveals a 7-day average of only 276,000 new addresses. This decline suggests fewer new investors are entering the cryptocurrency space. The “New Addresses” indicator monitors the daily creation of new addresses on the BTC network. When this metric is high, it typically indicates an influx of new investors. Picks for you We asked ChatGPT-4o what will be Cardano price at the end of 2024; Here's what it said 10 mins ago This crypto whale lost $300K in 2 days trading PEPE 1 hour ago DOGE or SHIB? We asked ChatGPT-4o which asset is a better buy for summer 2024 2 hours ago Sell-off alert: Over $1 billion in token unlocks this week 3 hours ago 12 year BTC new addresses chart. Source. IntoTheBlock However, returning investors and holders...