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比特币活跃地址从 2024 年初的 117 万下降到 85.5 万,下降了 27%。以太坊上的活跃地址数量也从 382K 减少到 312K,减少了 18%。
The crypto market has seen a declining trend of active addresses in the BTC and ETH markets.
加密货币市场中,BTC和ETH市场的活跃地址呈下降趋势。
Data provided by CryptoQuant and highlighted by the crypto analyst Burak Kesmeci shows that the number of active Bitcoin and Ethereum addresses has been steadily declining; this phenomenon may have a profound impact on the further development of the market.
CryptoQuant 提供的数据以及加密货币分析师 Burak Kesmeci 强调的数据显示,活跃的比特币和以太坊地址数量一直在稳步下降;这种现象可能会对市场的进一步发展产生深远的影响。
Since early 2024, active Bitcoin and Ethereum addresses have been declining
自 2024 年初以来,活跃的比特币和以太坊地址一直在下降
“For the bulls to dominate the market, the influx of new investors is a crucial condition.
“对于多头统治市场来说,新投资者的涌入是至关重要的条件。
1. Bitcoin 1.17M -> 855K
1. 比特币 117万 -> 85.5万
2. Ethereum 382K -> 312K”
2. 以太坊 382K -> 312K”
– By @burak_kesmeci
——@burak_kesmeci
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The active address for Bitcoin has fallen from 1.17M at the beginning of 2024 to 855K, a 27% loss. The number of active addresses on Ethereum has also decreased from 382K to 312K, a decrease of 18%. This reduced participation is alarming for bullish investors, particularly when new participants boost the market and price appreciation.
比特币活跃地址从 2024 年初的 117 万下降到 85.5 万,下降了 27%。以太坊上的活跃地址数量也从 382K 减少到 312K,减少了 18%。参与度的减少对于看涨的投资者来说是令人震惊的,特别是当新的参与者推动市场和价格升值时。
As Burak Kesmeci points out, although investors show more interest in spot ETFs, this has not been accompanied by increasing numbers of new entrants, which means that existing investors are simply recycling liquidity without bringing fresh investors into the markets.
正如 Burak Kesmeci 指出的那样,尽管投资者对现货 ETF 表现出更大的兴趣,但这并没有伴随着新进入者数量的增加,这意味着现有投资者只是在回收流动性,而没有将新投资者带入市场。
The approval of spot ETFs is anticipated to attract more active addresses, but the so-called ‘hype’ has not followed. The decrease in address activity may be signaling that retail investors, who drive market booms, are yet to make their entry into the crypto sphere.
现货ETF的批准预计将吸引更多活跃地址,但所谓的“炒作”并没有随之而来。地址活动的减少可能表明推动市场繁荣的散户投资者尚未进入加密货币领域。
Some of these sources of stagnation are also attributed to external macroeconomic factors. As Kesmeci underlines, the Federal Reserve’s ongoing Quantitative Tightening (QT) measures that started years ago and continue to remove liquidity from the financial system are the primary reasons for stagnation. Since liquidity is expected to remain tight, the expected increase in activity after the Fed’s first cut has not occurred.
其中一些停滞根源也归因于外部宏观经济因素。正如凯斯梅奇所强调的,美联储多年前开始实施的量化紧缩(QT)措施持续消除金融体系的流动性,是经济停滞的主要原因。由于预计流动性仍将紧张,美联储首次降息后预期的活动增加并未出现。
According to Kesmeci, though there are some rises in the M2 money supply, they have not been adequate to counterbalance the QT measures by the Fed. For this reason, crypto markets have not received the amount of new capital as many expected. But there is a growing hope that things will improve in the future. The analyst critiques that the moment when the Fed returns to QE (quantitative easing), the crypto market could expect a similar turn in activity and price increase.
Kesmeci表示,尽管M2货币供应量有所增加,但不足以抵消美联储的量化宽松措施。因此,加密货币市场并未像许多人预期的那样获得大量新资本。但人们越来越希望未来情况会有所改善。该分析师批评说,当美联储重返 QE(量化宽松)时,加密货币市场可能会出现类似的活动转变和价格上涨。
Without new retail investors, the bullish potential of the market might continue to be weak even with the institutional investors’ influx. Nevertheless, there are expectations of changes in the monetary policy that could give new life to the crypto market later in the year. The market is now just waiting for a more favorable macroeconomic environment for there to be renewed interest and growth.
如果没有新的散户投资者,即使机构投资者涌入,市场的看涨潜力也可能继续疲弱。尽管如此,人们预计货币政策的变化可能会在今年晚些时候给加密货币市场带来新的活力。市场现在只是等待更有利的宏观经济环境来重新激发兴趣和增长。
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