Bitcoin Leads Crypto Network Growth with 309,000 New Addresses Daily as Ethereum and XRP Lag; Traders Monitor User Adoption Trends
Recent on-chain analysis reveals a clear divergence in network growth among major cryptocurrencies. Bitcoin is experiencing robust network adoption, with an average of 309,000 new wallet addresses created per day over the past month, far outpacing Ethereum’s 112,000 and Tether’s (USDT) 36,400. Ripple’s XRP lags significantly, seeing just 3,500 daily new wallets. This signals a surge in user interest and potential long-term bullishness for Bitcoin, as sustained address growth serves as a fundamental indicator of user adoption and future market liquidity. In contrast, XRP’s sharp drop in wallet creation reflects waning retail interest, a reversal from December 2024 when it saw a surge past 20,000 daily addresses during a price rally. Recently, XRP has dropped over 5% in price and is trading below $2.5 after being rejected at $2.7, underscoring short-term uncertainty. While these network fundamentals typically influence price trends over the longer term, traders should monitor address growth and key support levels, particularly for Bitcoin and XRP. The momentum in Bitcoin’s network expansion could lay the groundwork for future rallies, while continued stagnation in Ethereum and XRP may limit their immediate price upside. Overall, these metrics provide essential context for evaluating market sentiment and asset strength.
Neutral
The surge in Bitcoin’s new address creation is a positive fundamental signal, indicating expanding network adoption and potential for future bullish momentum. However, such growth typically translates into price gains over a longer term rather than immediately. In the short term, Bitcoin’s price action remains neutral as traders digest these developments. Meanwhile, Ethereum and especially XRP are showing slower network growth, with XRP facing declining retail interest and a recent price drop. This divergence points to restrained immediate upside for these assets, with downside risk if negative sentiment persists. Overall, while the data highlights bullish prospects for Bitcoin and underperformance for XRP and Ethereum, the short-term market impact is neutral as traders await further confirmation from price trends and adoption metrics.