Rising Bitcoin holding addresses and undervalued Ethereum
Seriously Undervalued Ethereum
The prospect of OMNI-USDT is worrying
Active addresses
Active addresses
The number of active Bitcoin addresses in April was 23.2803 million, an increase of 4.99% from March. But it was still down from 25.2711 million in February when the market was active.
The number of active addresses of Ethereum in April was 15.1719 million, an increase of 2.91% from March. Although the growth rate in March was not as high as that of Bitcoin, Ethereum is the only mainstream project that has maintained positive growth in the number of new and active addresses from January to April this year.
The number of active addresses in TRON reached 5.4596 million in April, second only to Bitcoin and Ethereum. Compared with the 2.642 million in March, it has increased by 106%.
Number of new addresses
Number of new addresses
The number of new Bitcoin addresses in April was 11.8663 million, an increase of 6.14% from March. The number of new Ethereum addresses was 5,114,500, an increase of 23.18% from March. Combined with the growth momentum of Ethereum mentioned above for four consecutive months, Ethereum seems to be undervalued.
Number of currency holding addresses
Number of currency holding addresses
At the end of April, the number of Bitcoin holding addresses reached 43.4943 million, an increase of 5.43% from March; the number of Ethereum holding addresses reached 39.0848 million, an increase of 4.11% from March.
By comparing the details of changes in the number of currency-holding addresses in the past three months, we can more clearly judge the development of the project.
Even if the market fluctuates, the currency holding addresses of Bitcoin and Ethereum can still maintain a steady growth momentum. Whether they can maintain the continuous growth of currency holding addresses when the market goes down can be used as one of the indicators for us to judge the current development of the project.
In contrast, some projects whose currency holding addresses have not changed for a long time may mean that the development of the project has stagnated. For example, in Clam in the above figure, the number of currency holding addresses hardly fluctuates.
However, DCR has maintained a monthly increase of about 20% in the number of currency-holding addresses in the past three months, which is also in line with the optimistic logic we mentioned above.
On the whole, after experiencing the plunge in March, the market in April basically recovered the gap of the plunge, and the on-chain indicators have also risen compared with the downturn in March, among which Ethereum has continued to rise for four consecutive months. highlights. As the Bitcoin halving is approaching, the cryptocurrency market may usher in a new wave of gains.
