Blockchain Activity Insights: A Look at Active Address Trends
The dynamic world of blockchain continues to evolve, with various networks experiencing shifts in user activity. Active addresses, representing distinct wallets interacting with a chain, serve as a crucial metric for gauging network adoption and usage. Here’s a detailed analysis of recent activity patterns across notable blockchain networks.
Top Performers in Daily Active Addresses
1. Base: Leading the pack with over 1.09 million active addresses yesterday, Base recorded a slight 8.7% decrease over 24 hours but maintains an impressive 2,110% growth over the year - #base链

2. Arbitrum One: With 396.14k active users, Arbitrum showed stability with a modest year-on-year increase of 97%, though short-term trends saw a 4.9% drop - #arbitrum

3. Taiko: Notable for its consistent growth, Taiko engaged 196.98k users yesterday, experiencing a 14% daily increase and a 31% rise over the past 30 days - #Taiko

High Growth Chains Over the Year
- World Chain: With a modest 25.8k active addresses, this chain boasts an extraordinary 2,417% annual growth, showcasing its rising relevance in the blockchain ecosystem - $WLD

- Metis: Similarly, Metis achieved an astonishing 2,018% growth year-on-year, with a current user base of 25.86k, reflecting increasing traction and ecosystem expansion

- Mantle: While experiencing a slight daily dip of 11.6%, Mantle’s annual growth of 618% underscores its rapid adoption trajectory.

Short-Term Winners
- Polygon zkEVM: Displaying an impressive 234% daily increase and a 108% rise over 30 days, this chain saw its active addresses reach 6.51k, signaling strong recent activity - $POL

- Manta Pacific: Engaging 93.48k users yesterday, Manta Pacific surged by 37% in 24 hours, though its longer-term metrics reveal a 40.7% decline over the past 30 days.

Chains Facing Challenges
While several chains experienced growth, others struggled to maintain momentum:
- Starknet: Despite a respectable daily active user count of 8.06k, Starknet witnessed a 94.1% decline over the year, reflecting a significant reduction in activity - $STRK

- Immutable X: Engaging 2.93k users yesterday, this chain saw a 24.6% annual decline, highlighting waning interest or utility.

- rhino.fi: This chain experienced one of the sharpest declines, with a 92.9% reduction in activity year-on-year.

Emerging Trends
1. Divergence Between Short and Long-Term Growth: Chains like Polygon zkEVM and Zora exhibit robust short-term activity increases, while others like Base and Metis demonstrate sustained long-term growth.
2. Significant Annual Growth Among Newer Networks: Chains such as World Chain and Metis are capitalizing on unique use cases, attracting fresh user bases.
3. Volatility in Established Chains: Immutable X and #Starknet , despite their early promise, face challenges in retaining active users.

The world’s second-largest crypto by market cap- Ethereum, topped by Bitcoin, has experienced its market surges over the last few years. As the year comes to a close, experts predict a rise in Ethereum market price, which might reach new levels above $2,000. Various factors will affect this bullish move and might also spill over to its altcoins. Volatility in the crypto market is a major attribute for cryptocurrencies, and this has seen a rise and fall in market values of various crypto. Currently, experts are in talks about theETH price, and market data have also confirmed this. However, the question remains on whether ETH’s price will coincide with expert future market predictions. Ethereum is expected to rise to levels above $2,000Ethereum’s price has consolidated around $1,750 and $1,820 levels over recent weeks. Based on on-chain data trends, institutional investors have been conducting a significant number of ETH transactions in the Ethereum network. This has been the reason behind market experts’ prediction of Ethereum’s price reaching $2,500 in November 2023. The US stock market, as well as its index funds, recorded negative outings as investors’ expectations fell short last week. Among the companies included in this pluming are Facebook (META) and Google/Alphabet (GOOG), as well as benchmark indices like S&P 500. According to on-chain data, instructional investors sought to jump into Ethereum investment as a hedge against their bets following the wake of the US stock markets’ poor results. Reports have recorded large Ethereum transactions of about 5,700 ETH on October 24. This was the largest transaction recorded since the end of the first quarter in March 2023. Additionally, the data proves that ETH transactions have been counted to be above 3,000 on a four-day average since the first large transaction count. Large Transactions in the crypto language refer to transactions that exceed $100,000 in a single trading day. Reasons for the expected ETH bull rallyThe spontaneous increase in these large transactions is a sign of a strong bullish there’d expected for Ethereum in the coming future. Based on the investment timeline, large investors started to seek ETH investments when the S&P 500 index dropped to a 5-month low. The increase in the number of large transactions is a signal indicating an expected price surge based on various reasons. To begin with, it implies that market liquidity is at an increasing momentum, and this enables participants in the underlying network to execute trades more efficiently at higher prices. The outsize demand for digital assets from large investors maps a short-term scarcity. This influenced the price as the demand rose. Based on ETH’s historical on-chain data, its price entered a 44% rally and witnessed a peak of $2,100 in 2024. This was following a whale traction that recorded 12,400 ETH transactions in March. Additionally, if the US stock price keeps its downtrend, Ethereum’s price could hit a fresh high of $2,500 this coming November. This will be fostered by more investors joining the crypto market and heading their investment positions with ETH. Among the major factors that will affect ETH’sprice increase include the downtrend of US stock prices, the on-chain perspective, and the increase in Ethereum’s Large Transactions. Considering market data from October 28, Ethereum’s EMA 30 stood at $1,6665.99, as its SMA 30 was recorded at $1,646. Following this development of both the SMA and EMA being below Ethereum’s current price of $1,787.33 at the time of writing, this implies that a robust bullish rally is potentially brewing in the short term. If the bulls are stronger than predicted, the digital asset will record a resistance level of around the $1,850 mark. If this happens, the price might push to the $2,005 mark, and this will show the beginning of Ethereum’s journey to the $2,500 Mark, as predicted from market data.  Disclaimer. The information provided is not trading advice. #arbitrum #solana #ordinals #Meme #etf $LEVER $LUNC $SHIB

Copy-trading, also referred to as mirror trading or occasionally named as social trading, allows you to automate the purchasing and selling of crypto assets by following other traders. These are usually experienced traders who routinely make more money than they lose. It is the best approach to start investing in cryptocurrency since you do not need to be born with ability or luck. Simply mimic the moves of more experienced traders. On the other side, if you are an advanced trader who is confident in your trading tactics, you can share them with newbies. The more successful you are, the more individuals you will be able to attract. Thus, by trading on your own and charging a fee for a subscription to your account, you can earn twice as much. The only thing left to do is select a platform that will allow it to be realized smoothly.#crypto2023 #etf #Meme #solana #arbitrum $BTC $ETH $BNB