maartunn
Retail investors active on Ethereum network
There is something going on at the Ethereum Network. One of the regional communities from CryptoQuant, Cryptoquant_JP, notified me about Ethereum: Active Addresses. That metric is on all time high. When we observe the historical data on Ethereum: Active Addresses, something what catches the eye is that everytime when Active Addresses spiked above 575K, it pointed a local topđť What is the reason behind it? There are many active addresses, isn't that bullish? In my opinion, no it's not. Many active addresses could give a hint on the type of investors who's active in the market. It could indicate that a big amount of retail investors are hearing about the merge and seeing that ETH rose with 100% from bottom to top. And now they are FOMO'ing. đ All in all, this is just one indicator and that is to little to plan your whole trading strategy on. But it is a indicator to keep serious given the historical data đ