The recent surge in price action has seen the number of non-zero addresses increase to an ATH of ~45.5 million. The data shows that only 96 of the 5,206 data points recorded a change in the last 14 days that exceeded the 14-day change in absolute terms. This suggests that the degree of on-chain activity is currently improving.
To better understand this situation, you can break it down into the following points:
Spike in Price Action - The recent rise in prices of cryptocurrencies has led to an increase in the number of non-zero addresses. This may be due to an increase in interest in cryptocurrencies and an increase in demand for them.
Increasing number of non-zero addresses - Increasing prices of cryptocurrencies encourage people to buy and hold cryptocurrencies, which in turn leads to an increase in the number of non-zero addresses.
ATH ~ 45.5 million - ATH means "All-Time High" (historical high). That is, the number of non-zero addresses reached a historical maximum of 45.5 million.
96/5206 data points - This means that only 96 of the 5206 data points recorded a change that exceeded the 14-day change in absolute terms. This suggests that the majority of users have not sold their cryptocurrencies in the last 14 days.
Improving the degree of on-chain activity - This user behavior indicates that the degree of on-chain activity is improving. On-chain activity means activity on the cryptocurrency blockchain, including transactions and participation in mining.
Thus, the recent surge in price action has led to an increase in the number of non-zero addresses to ATH ~45.5 million, as well as an improvement in the degree of on-chain activity. This may indicate an increase in interest in cryptocurrencies and a strengthening of their position in the global economy. However, it should be noted that the cryptocurrency market is very volatile and can be subject to significant price fluctuations. Therefore, when deciding to buy or sell cryptocurrency, you should consider the high level of risk.
In addition, an increase in the number of non-zero addresses does not always indicate an increase in demand for cryptocurrency. Some users may create new addresses to improve the security of their cryptocurrency assets rather than to buy or sell cryptocurrency.
Despite this, the increase in on-chain activity may indicate that cryptocurrencies are still in demand and are actively used in real transactions. This can help increase trust in cryptocurrencies and strengthen their reputation as a means of conducting safe and secure financial transactions.
Overall, the recent surge in price action and increase in the number of non-zero addresses indicate that cryptocurrencies continue to attract attention and interest among investors and users. However, before investing in cryptocurrencies, it is necessary to conduct a thorough analysis of the risks and prospects of this type of investment.
