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While an increase in the number of active addresses can indicate greater adoption and transaction activity for a cryptocurrency, in Bitcoin’s case, it may not necessarily translate to a higher valuation, given its growing role as a store of value rather than a digital currency.
An active address or an active user is defined as the number of unique addresses in the network that have either sent or received crypto. Active Addresses are measured in daily, weekly and monthly timeframes.
To know everything on active addresses check out our complete article on active addresses.
High active addresses can arise due to its higher usage in payments or higher on-chain activity among OTC desks, Exchange withdrawals etc. Generally, spikes in active addresses signify high adoption among native crypto users on-chain. A downtrend in active addresses, can be perceived as either reduction in the usage of the chain or an increase in the hodling nature of the token.
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