Active addresses
Distinct addresses active on-chain per day — a rough proxy for network usage/adoption.
Why it matters
The absolute level says little on its own; what's interesting is a sustained divergence against price (usage growing while price stalls, or vice versa).
Build it yourself
This indicator isn't derived from a formula of its own — it's a raw input as-is, so there's nothing to "build" here: what matters is understanding where it comes from (the explanation above) and how later indicators combine it.
How it's calculated, step by step
- It's read directly from Coin Metrics' free-API
AdrActCntfield — not recalculated, already provided.
Descriptive.
An adoption proxy, not a price-timing indicator.
Chart
This is real Bitcoin data, computed from the blockchain — not the illustrative example above.
Data last updated on 2026-09-09.