Daily New Addresses


Description

The Daily New Addresses indicates the number of addresses that have been newly created, either through their first input or output, within a specified timeframe. This metric provides insight into the rate of address creation within the cryptocurrency network, offering a glimpse into potential user adoption or activity trends.


Use Case

Trader

Traders can use these metrics to determine if active addresses increase (buy signal) or decrease (sell signal).

Analyst

Analysts can use these metrics to develop risk metrics on a network.

Researcher

Researchers can use these metrics to find the correlation between new addresses or addresses with transactions and other data such as ordinal transactions or ETF interest.


Methodology

New addresses (inputs and outputs):

  1. Joined list of daily inputs (addresses and transaction date)
  2. All Addresses: Count distinct of every input and output address per day
  3. New Addresses: First date of either an input or an output (by day)
  4. 30-Day MA: 30-day moving average (DMA) on new addresses (first input or output)
  5. 365 Day MA: 365-day moving average (DMA) on new addresses (first input or output)