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Description

The Daily New Addresses metric quantifies the number of blockchain addresses created within a specified timeframe, identified by their first recorded input or output transaction. This metric provides insight into the rate of new address creation, serving as an indicator of potential user adoption or shifts in network activity. Coverage includes Ethereum (ETH) and Bitcoin (BTC) networks.

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Use Case

Traders monitor changes in new address creation as potential market signals; increases may suggest heightened buying interest, while decreases might indicate reduced market participation. Analysts incorporate these metrics into risk assessments and models evaluating network health. Researchers examine correlations between new addresses and other metrics—such as ordinal transactions or ETF interest—to understand broader market dynamics and behavioral patterns.

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Methodology

New Addresses (Inputs and Outputs):
  • Data is derived from a combined list of daily input and output addresses, each associated with its transaction date.
  • All Addresses: The count of distinct addresses appearing as inputs or outputs per day.
  • New Addresses: The earliest day on which an address appears as either an input or output transaction.
  • 30-Day Moving Average (DMA): A 30-day moving average calculated over the daily count of new addresses.
  • 365-Day Moving Average (DMA): A 365-day moving average calculated over the daily count of new addresses.