In the realm of Layer 1 (L1) networks, a recent analysis highlighted the number of addresses across six leading networks. Ethereum emerged as the leader with approximately 103 million addresses in the past 30 days, followed by Bitcoin with around 51 million addresses. Litecoin and Avalanche took the third and fourth spots with 7.7 million and 6.3 million addresses respectively, while Dogecoin and Cardano rounded out the top six.
Ethereum showed a consistent increase in active addresses over the last 30 days, reaching about 5.6 million active addresses by November 28. Notably, at least twice a week, there were significant increases, adding up to 10,000 more active addresses. At the time of writing, Ethereum’s active addresses had climbed to approximately 6.1 million.
Contrastingly, Bitcoin displayed a different trend with a higher number of daily active addresses but a declining trajectory. The graph indicated a clear downward movement, signifying a decrease in active addresses.
On November 28, the Bitcoin network had around 20 million addresses, but recent data revealed a drop to approximately 17 million active addresses. When examining the recent price trends of Bitcoin and Ethereum, both showed similar patterns in the last 48 hours.
Ethereum’s daily chart witnessed a drop of over 1.7% on December 26, trading around $2,231, and slightly declined further to about $2,221 at the time of the report. Similarly, Bitcoin experienced a 2.67% decrease on the same date, reaching a trading value of around $42,583, and continued to show a downward trend, albeit less than 1%, trading at approximately $42,360.
The contrasting patterns between the two giants, Ethereum and Bitcoin, in terms of active addresses and price movements, reflect the dynamic and often unpredictable nature of the cryptocurrency market.