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On-chain data establishes a useful upper bound on active user count, but does not say the actual number. The upper bound is low enough to say that it's a few t
by pclmulqdq 4y ago
On-chain data establishes a useful upper bound on active user count, but does not say the actual number. The upper bound is low enough to say that it's a few thousand users.
- olalonde 4y agoThe upper bound would be over 1 billion for Bitcoin (1+ billion unique addresses)[0]. The number of daily active addresses is around 1 million[1]. And that doesn't account for second layer transactions. Where do you get the "few thousand" from? [0] https://studio.glassnode.com/metrics?a=BTC&category=Addresses&m=addresses.Count https://studio.glassnode.com/metrics?a=BTC&category=Addresse... [1] https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount https://studio.glassnode.com/metrics?a=BTC&m=addresses.Activ...