Bitcoin Adds 150,000 Daily Active Addresses in a Month while Ethereum & Litecoin Drops Over 12%

Dash drops the hardest while EOS the least An address on blockchain serves the purpose of enabling payments to an entity that has unique information. To put it simply, an address is just a secure identifier. However, filtering potential investment by active address activity on a network provides insight into the overall network value and health. Technically, a lot of cryptocurrencies use nearly the same format as Bitcoin such as Litecoin, Dogecoin, and Dash that deploy the same cryptographic procedures like ECDSA, SHA 256, and RIPEMD 160 to generate an address. Now, coming on to the stats, as Bitcoin price gets into the action, the active addresses are also showing considerable movement. During the last just over a month, there has been an uptick of 21.6 percent in Bitcoin addresses. From over 690,267 on April 1st, 2019, BTC active addresses have grown to 839,388 on May 9th, 2019, a hike of nearly 150,000. Active Addresses YTD chart, Source: Coin Metrics As can be seen in the graph,