{"id":289151,"date":"2021-07-02T05:27:15","date_gmt":"2021-07-02T02:27:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoins-active-addresses-fall-below-ethereums-after-60-drop-in-six-weeks\/"},"modified":"2021-07-02T05:27:15","modified_gmt":"2021-07-02T02:27:15","slug":"bitcoins-active-addresses-fall-below-ethereums-after-60-drop-in-six-weeks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoins-active-addresses-fall-below-ethereums-after-60-drop-in-six-weeks\/","title":{"rendered":"# Bitcoin\u2019s active addresses fall below Ethereum&#8217;s after 60% drop in six weeks"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a28a36ddb56f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a28a36ddb56f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoins-active-addresses-fall-below-ethereums-after-60-drop-in-six-weeks\/#Flippening_watch\" >Flippening watch<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin\u2019s active addresses fall below Ethereum&#8217;s after 60% drop in six weeks <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analyst, Mr. Whale \u2014 known for his bearish takes \u2014 also noted that Bitcoin\u2019s active addresses have fallen to their lowest level since April 2020 based on a weekly moving average.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin\u2019s active addresses on the blockchain network just plunged to its lowest level since April 2020. <\/p>\n<p>This data is bearish. It shows demand for Bitcoin is drying up very quickly. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/vdmwagbvtm\">pic.twitter.com\/vdmwagbvtm<\/a><\/p>\n<p>\u2014 Mr. Whale (@CryptoWhale) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoWhale\/status\/1410666962426941444?ref_src=twsrc%5Etfw\">July 1, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Several factors may be contributing to the aggressive drop in active Bitcoin addresses, including the more than 50% sell-off that followed Bitcoin\u2019s all-time highs in May and subsequent sideways market action, and the massive crash in network hash rate amid China\u2019s latest crack down on local Bitcoin mining operations.<\/p>\n<p>Ethereum\u2019s active addresses increased by more than 9% over the past week to tag 700,000, despite the price of ETH falling more than 10%. However, active Ethereum addresses are still down 22% from their early April peak of 900,000.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Flippening_watch\"><\/span>Flippening watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Active addresses is the latest metric Ethereum has overtaken Bitcoin by, with Blockchain Center\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchaincenter.net\/flippening\/\">Flippening Index<\/a> estimating Ethereum\u2019s transaction fee revenue leads by more than 300%, while total transaction count is ahead by nearly 500%.<\/p>\n<p>However, Bitcoin has also reclaimed a lead in both trading and transaction volumes after recently falling behind Ethereum.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/57dcfea7-248d-4e58-8e13-168e65dcfa1d.png\"><figcaption style=\"text-align: center;\"><em>Flippening Index: Blockchain Center<\/em><\/figcaption><\/figure>\n<p>According to a June 23 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/activity-on-defi-stalls\/\">report<\/a> from on-chain analytics provider, Glassnode, the total number of unique addresses interacting with DeFi protocols has continued to climb since May, suggesting DeFi activity was rising despite the broader crypto meta-trend.<\/p>\n<p><strong><em>Related: <\/em><\/strong><em>Almost twice as much ETH locked in DeFi as on exchanges: Glassnode<\/em><\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/duneanalytics.com\/rchen8\/defi-users-over-time\">data<\/a> shows a nearly 40% increase in the number of wallets that have interacted with DeFi protocols since the start of May, pushing total user count up to more than 2.9 million. As such, persistent demand for DeFi from new users may explain Ethereum\u2019s recent strength in network activity relative to Bitcoin.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-s-active-addresses-fall-below-ethereum-s-after-60-drop-in-six-weeks\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin\u2019s active addresses fall below Ethereum&#8217;s after 60% drop in six weeks &#8221; 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":289152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvMzc5MDNhMTctMTdiYy00NWZjLWFkNTItYzEzYTNkMGE1YWY1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74891,74879],"class_list":["post-289151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-ethereum","tag-wallet"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=289151"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/289151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/289152"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=289151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=289151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=289151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}