Smart contract platforms have reached an all-time high in active addresses despite a price correction, which analyst Jamie Coutts sees as a positive sign for the asset class.
Increase in Active Addresses
According to data from analytics platform Artemis, daily active addresses have increased from 5 million to 17 million 12 months ago. This increase is seen as a positive development despite the current price decline. Coutts notes that the total market value has fallen by 35% since March, but is up 63% from a year ago. He describes this as a healthy correction in the long-term bull market.
Solana and Ethereum
According to Artemis data, Solana’s active addresses have been increasing rapidly since late 2023 and Ethereum $2,324.80However, Ethereum still leads Solana in other metrics such as stablecoin market cap, stablecoin transfer volume, and total value locked.
Bitcoin and Market Liquidity
In a new video update, Coutts said that market liquidity has increased and that this has been the case for Bitcoin in the last four months of the year. 
$56,474.79 “It creates a positive picture for the market. Bitcoin usually performs well during this time of year. Coutts expects Bitcoin to perform strongly in the fourth quarter, especially despite September being historically weak.
Coutts noted that investors are focused on short-term developments in crypto, but in the long term, factors such as liquidity are more decisive. He believes that current conditions are positive for the fourth quarter and that Bitcoin will perform well unless there are major geopolitical events.
The analyst emphasizes that liquidity is increasing in the crypto market in general, which is a positive signal for Bitcoin and other crypto assets. He expects a strong outlook for the fourth quarter, especially based on historical data where Bitcoin performed well in the last four months of the year.
Analysis and data show that although some metrics in the crypto market have decreased, the increase in important indicators such as active addresses indicates a long-term positive trend. For crypto investors, such indicators are important factors to consider when determining market strategies.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
