Glassnode: The number of active BTC entities has dropped to a low point of 219,000 in the cycle
According to on-chain analysis company Glassnode data, after the approval of Bitcoin spot ETF, despite the recent strong performance of Bitcoin price, the number of active entities has dropped to a cyclical low of 219,000 per day (slightly rebounded to 221,000 this week).
Glassnode analysis shows that this is mainly due to an increase in activities related to ordinal and inscription. Many participants are reusing Bitcoin addresses, thereby reducing the number of "active entities" (not counted repeatedly).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Visa Tightens Memecoin Card Codes After Digital-Media Classification
REX launches 2x leveraged ETF tied to Bitcoin treasury firm Strive
No, Morgan Stanley Not Selling BTC: Onchain Data
Tether issues 500 million USDT on the Solana blockchain
Crypto prices
More
