Bitcoin’s active addresses fall below Ethereum's after 60% drop in six weeks

[seje]

Bitcoin’s active addresses fall below Ethereum's after 60% drop in six weeks


The number of addresses active on the Bitcoin network has crashed roughly 60% in the past six weeks from 1.3 million to roughly 500,000.

The collapse in activity has seen Ethereum overtake Bitcoin by number of active addresses, with the Ethereum network hosting roughly 200,000 more active wallets than Bitcoin on July 27.

It is the third time this month, with Ethereum also having overtaken Bitcoin by the metric June 5, 2021, and June 6, 2021. The previous time ETH was in the lead was at the beginning of 2017.

Twitter analyst, Mr. Whale — known for his bearish takes — also noted that Bitcoin’s active addresses have fallen to their lowest level since April 2020 based on a weekly moving average.


https://cointelegraph.com/news/bitcoin-s-active-addresses-fall-below-ethereum-s-after-60-drop-in-six-weeks