Read the complete metric definition
The phrase “active addresses” is incomplete without a network, interval and activity rule. Glassnode’s basic definition counts unique sending or receiving addresses in successful transactions; it documents a separate variant that includes contract interaction.
Those are provider definitions, not universal rules for every dashboard. Record the exact metric identifier and version used in a note. An address chart should not acquire a “people” label merely because that label is easier to explain.
Evidence: Glassnode: address metric definitions
An address is not a one-person identifier
One person can control several addresses, while a service can act for many customers through shared infrastructure. A smart-contract address may also be part of the recorded activity. Address identity alone does not resolve these relationships.
The direction of the mismatch is not fixed: some people generate many addresses, and some people may have no individually visible on-chain action during the interval. There is no justified universal conversion factor from addresses to people.
Evidence: CryptoTrades: transaction records · CryptoTrades: custody and private keys
Separate interval totals from unique participants
Consider an invented two-day log: A and B are active on day one; B and C on day two. Each day has two unique addresses. Adding the daily counts gives four address-days, while the two-day union contains only three addresses.
Neither total is a count of humans. The example isolates a set-counting issue before any questions about ownership or service activity. Extending a chart’s time range does not make daily uniqueness turn into monthly uniqueness.
| Interval | Active labels | Unique addresses |
|---|---|---|
| Day 1 | A, B | 2 |
| Day 2 | B, C | 2 |
| Two-day union | A, B, C | 3 |
Entity adjustment adds an estimate, not identity proof
Glassnode describes entity metrics as address clusters estimated to share control using heuristics and proprietary algorithms. Its documentation notes that recent observations may revise as clustering changes.
An estimated entity can still represent an organization or service rather than a single person. A research summary should identify the source and adjustment instead of presenting a cluster count as a verified customer or human-user count.
Evidence: Glassnode: entity metric definitions
Align coverage before comparing networks
A useful comparison specifies the observation interval, UTC convention, successful-transaction filter, contract treatment and network coverage. Different definitions can produce different counts without demonstrating different levels of genuine adoption.
State missing coverage and exclusions alongside the chart. A daily change could reflect activity patterns, methodology or the counted objects; the count alone does not identify motive, new demand or an expected asset return.
Evidence: Glassnode: address metric definitions
Use CryptoTrades research as context, not a hidden feed
The current market snapshot does not provide active-address or entity-adjusted series. This guide uses public definitions and an invented set example; no historical provider dataset was collected or republished.
Use the transaction-record guide to distinguish what a chain records from what a researcher infers. Any later activity study needs permitted data access, consistent intervals and an explicit explanation of what remains unobserved.
Evidence: CryptoTrades data methodology
Sources & method
- Glassnode: address metric definitions
Definitions of basic active-address and contract-interaction variants; documentation only, no API collection. Checked 2026-10-29.
- Glassnode: entity metric definitions
Heuristic clustering and revision caveats; no claim of verified human identities. Checked 2026-10-29.
- CryptoTrades: transaction records
Network-specific records and limits of attribution. Checked 2026-10-29.
- CryptoTrades: custody and private keys
Control and service arrangements need separate evidence. Checked 2026-10-29.
- CryptoTrades data methodology
Current snapshot coverage and timing labels; the site does not expose an order-book or active-address feed. Checked 2026-10-29.
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