On-chain data shows the number of active Ethereum addresses has recently spiked up to a new all-time high. Here’s what happened in the past when the metric reached such high values.
Ethereum Active Addresses Surge To A New All-Time High
As pointed out by an analyst in a CryptoQuant post, a signal that has usually been bearish for the price of the crypto has gone off recently.
The “active addresses” is an indicator that measures the total number of Ethereum wallet addresses that showed some movement on any given day. The metric takes into account both senders and receivers.
When the value of this metric goes up, it means an increasing number of addresses are displaying some activity right now. Especially large values can be