The number of active Bitcoin addresses dropped by 9.38% last month in the context of low prices in the crypto market, according to data provided by Glassnode.
According to the resource, now there is a stronger correlation between the number of active addresses and the price of Bitcoin against the background of the market correction.
In addition, the decline in on-chain activity is also visible in a decrease in the number of on-chain transactions to the levels of the beginning of 2016.
In spite of the correction and the evident decrease in on-chain activity, the dynamics of the supply of coins at the addresses of long-term investors still show an accumulation model.
We should remember that last week it became known that the number of active Bitcoin addresses had fallen by 60% in just 6 weeks.
However, it seems that the price of Bitcoin is trying to gain boost today, as it is currently almost touching $35,000 after adding +1.63% over the past day.