The cryptocurrency with the most activity on its network – Dash

A recent comparison from Coinmetrics showed that Bitcoin, Dogecoin, Dash, and Ripple have seen a significant increase in the number of active addresses. While these coins have performed very well this year, other solid performers such as NEO saw a 70 percent drop.

Active addresses a good metric to measure coin popularity

Getting a clear picture of the crypto market is a daunting task, as there are tens of thousands of variables to consider. Market capitalization has long been thought to be the best way to measure the popularity of a certain cryptocurrency and get a clear idea of where the market is going.

However, looking at other data points can add additional insight in conjunction with market capitalization. For example, according to LongHash, one of the best ways to measure a coin’s popularity is to consider the number of active wallet addresses on its blockchain.

Active addresses, meaning those that have engaged in crypto transactions during the past 24-hours, are a better metric than just the number of addresses, as it shows how much actual usage a coin actually gets.

Ceteris Paribus, a well-known Twitter account focused on cryptoanalysis, compared the number of active addresses of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Dash (DASH), NEO (NEO), and XRP (XRP).

Crypto analyst compares the number of active addresses for top coins

The tweet compared the 30-day average number of active addresses for each of these coins from May 14, 2018, to May 14, 2019……..

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Author: Priyeshu Garg
Original link: https://cryptoslate.com/analysis-of-active-addresses-bitcoin-xrp-dash-and-dogecoin-see-major-growth/