On-chain data shows the number of active Ethereum addresses has recently spiked up to a new all-time high. Here’s what happened in the past when the metric reached such high values. Ethereum Active Addresses Surge To A New All-Time High As pointed out by an analyst in a CryptoQuant post, a signal that has usually been bearish for the price of the crypto has gone off recently. The “active addresses” is an indicator that measures the total number of Ethereum wallet addresses that showed some movement on any given day. The metric takes into account both senders and receivers. When the value of this metric goes up, it means an increasing number of addresses are displaying some activity right now. Especially large values can be a sign of high activity from retail investors. On the other hand, low values of the indicator suggest not too many Ethereum wallets are making moves at the moment. Now, here is a chart that shows the trend in the ETH active addresses over the last few years: The value of the metric seems to have been pretty high in recent days | Source: CryptoQuant In the above graph, the quant from the post has marked the relevant points of trend for the Ethereum active addresses. It looks like whenever the indicator has risen above the “575k active addresses” level, the crypto’s price has registered a local top. The metric has just recently observed a very sharp spike and set in a n...
