The chief crypto analyst of financial services platform Real Vision says that an on-chain metric indicates a bullish outlook for crypto.

In a post on social media platform X, Jamie Coutts says blockchains are seeing a surge in daily active users (DAU), a metric indicating unique user engagement with a platform over a period of 24 hours.

The DAU of an aggregate of 22 blockchains rose by 132.8% over the past six months and 117.4% over the last three months.

“Blockchains ranked by 3-month Daily Active Users (14d avg) growth.  

Total DAUs 20% to 12.8 million over the period, while smart contract platform prices fell on average -36%.”

Decentralized layer-1 blockchain and smart contract platform SUI saw the highest increase in DAU. Daily active users interacting with the network is up by 1,957.4% over the past six months and 3,503.4% over the past three months. Ethereum (ETH) layer-2 scaling solution Mantle follows with a DAU increase of 231.3% over the past six months and 518.1% over the past three months.

Last week, low-cap altcoins significantly underperformed large-cap digital assets. Despite the slump, Coutts says the DAU metric is currently flashing a positive sign for crypto as the market cap for layer-1 blockchains tends to increase when daily active users go up.

“Prices may have been overdone leading into the March/April top. However, user acquisition continues unabated, which is exactly what you would expect for an exponential asset/technology.

The current trajectory is for 20 million crypto DAUs by EOY (end-of-year) or approx. 200 million MAUs (monthly active users). Bullish.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Real Vision Analyst Says One Metric for Layer-1 Crypto Assets Flashing Bullish Following Altcoin Correction appeared first on The Daily Hodl.

The chief crypto analyst of financial services platform Real Vision says that an on-chain metric indicates a bullish outlook for crypto.

In a post on social media platform X, Jamie Coutts says blockchains are seeing a surge in daily active users (DAU), a metric indicating unique user engagement with a platform over a period of 24 hours.

The DAU of an aggregate of 22 blockchains rose by 132.8% over the past six months and 117.4% over the last three months.

“Blockchains ranked by 3-month Daily Active Users (14d avg) growth.  

Total DAUs 20% to 12.8 million over the period, while smart contract platform prices fell on average -36%.”

Decentralized layer-1 blockchain and smart contract platform SUI saw the highest increase in DAU. Daily active users interacting with the network is up by 1,957.4% over the past six months and 3,503.4% over the past three months. Ethereum (ETH) layer-2 scaling solution Mantle follows with a DAU increase of 231.3% over the past six months and 518.1% over the past three months.

Last week, low-cap altcoins significantly underperformed large-cap digital assets. Despite the slump, Coutts says the DAU metric is currently flashing a positive sign for crypto as the market cap for layer-1 blockchains tends to increase when daily active users go up.

“Prices may have been overdone leading into the March/April top. However, user acquisition continues unabated, which is exactly what you would expect for an exponential asset/technology.

The current trajectory is for 20 million crypto DAUs by EOY (end-of-year) or approx. 200 million MAUs (monthly active users). Bullish.”

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Real Vision Analyst Says One Metric for Layer-1 Crypto Assets Flashing Bullish Following Altcoin Correction appeared first on The Daily Hodl.