The number of active addresses🔴, which represents the number of addresses that have been activated through transactions and other activities, is used to gauge how active the market is.
Despite concerns over the BTC ETF issue, active addresses have been consistently declining since November. However, this may not necessarily be seen as a negative signal.
The average amount of tokens transferred🟡 has shown a significant increase since mid-December and continues to do so.
This substantial increase in the number of tokens transferred per address can be seen as evidence of the presence of significant institutional capital and other large investors entering the market in response to the ETF approval issue.
Written by Yonsei_dent