According to Santiment's data shared on X, Bitcoin's network growth is significantly outpacing other major cryptocurrencies. Over the past month, Bitcoin averaged 309,000 new addresses daily, indicating strong adoption. This data, observed over the last twelve months, suggests Bitcoin is attracting more user interest than its competitors.
Ethereum follows with an average of 112,000 new addresses per day, nearly three times less than Bitcoin. USDT shows 36,400, and XRP lags considerably at just 3,500 new addresses daily. Historically, increased adoption has been constructive for cryptocurrency networks, providing a sustainable base for future price growth.
Despite strong network growth, Bitcoin's price has cooled off in the past week, returning to the $102,600 mark. However, the appreciable rate of Bitcoin network growth suggests the asset's bull run may be well-positioned in the long term.
This article is based on our author's analysis of materials taken from Santiment's data shared on X.