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Is Crypto Losing Steam? Bitcoin And Ethereum Addresses Shrink In 2024

  • The cryptocurrency market is experiencing a decline as Bitcoin and Ethereum active addresses decrease.
  • Bitcoin's active addresses have contracted by 1.17 million to 855,000, while Ethereum has reduced by 382,000 to 312,000 year-to-date.
  • The absence of new investors entering the market is the primary cause of this decline.
  • Despite challenges, there are indications of a potential rebound, as Ethereum funding rate remains positive and large holders accumulate assets.

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