Active Addresses

Active Addresses

Contents

• Active Monthly, Weekly, Daily Addresses (AdrActXdCnt)

• Active Addresses (Sent) (AdrActSentCnt)

• Active Addresses (Received) (AdrActRecCnt)

• Active Smart Contract Addresses (AdrActContCnt)

Interpretation

Active addresses is a popular measure to proxy the number of users on a blockchain, since it is typically less sensitive to stress-tests (which often focus on transaction count). However, active addresses inherit idiosyncrasies from the structure of the particular blockchain, and care must be taken to understand structural differences in active address counts. In blockchains where address creation is cheap or free, and transacting is cheap or free, active addresses can still be trivially forged.

Active Monthly, Weekly, Daily Addresses

Name	MetricID	Unit	Interval
Active Monthly Addresses	AdrAct30dCnt	Addresses	1 Day
Active Weekly Addresses	AdrAct7dCnt	Addresses	1 Day
Active Daily Addresses	AdrActCnt	Addresses	1 Day

Definition

The sum count of unique addresses that were active in the network (either as a recipient or originator of a ledger change) in the trailing X days up to the end of that interval. All parties in a ledger change action (recipients and originators) are counted. Individual addresses are not double-counted if active several times in the considered interval.

Details

• Active addresses count the number of unique addresses that participated in a ledger change.

• Ledger changes can include activities such as transacting, signing of blocks, claiming of mining or staking rewards, voting, creating accounts, and more dependent on whether the underlying protocol supports the activity (different protocols vary in the types of activities that are supported).

• All participants of a ledger change activity are included.

• If an address was active multiple times during the aggregation interval (e.g., 30 days), it is counted only once.

• For ETH, miners receiving fees from the original sender of a failed transaction are counted as active (receiving) addresses.

• Any address that's active (even if sending 0 ETH, or sending ETH to itself, or involved in failed transactions) is counted towards active addresses.

Asset-Specific Details

• This metric is not available for assets that have full privacy, like Monero and Grin. For assets that have opt-in privacy features, like ZCash, it only takes the non-private activities into account.

• For Solana, includes both owner accounts as well as sub accounts

Coverage

• AdrAct30dCnt

• AdrAct7dCnt

• AdrActCnt

Active Addresses (Sent)

Name	MetricID	Unit	Interval
Active Addresses (Sent)	AdrActSentCnt	Addresses	1 day, 1 hour

Definition

The sum count of unique addresses that were active in the network (as a recipient of a ledger change) that day. Individual destination addresses are counted. Individual addresses are not double-counted if previously active.

Details

• Active Addresses (sent) is the sum count of unique addresses that where the sending side of a ledger change

• For this unadjusted version of the metric, all ledger change scenarios are considered.

• Such ledger changes can include mining, staking, transacting, account creation, etc..

• If an address was active multiple times as sender during that interval, it is counted only once.

Asset-Specific Details

• This metric is not available for assets that have full privacy, like Monero, Grin. For assets that have opt-in privacy features, like ZCash, it only takes the non-private activities into account.

• For SOL, all accounts that sent SOL tokens in the period. Includes owner accounts and sub accounts. Owner accounts are always counted since they are paying and signing for the transaction, even if the owner account itself doesn't send more SOL than just the fee.

• For SPL tokens, all accounts that sent the SPL token in the period. This includes validators & delegators. Includes owner accounts and sub accounts.

Examples

In a given day:

• Address A mines 10 coins

  • A was recipient, no sender

• Address B sends 2 coins to each C and D

  • C and D were recipients, B was sender

• Address D delegates 20 coins to E

  • D is the sender, E is recipient

• Address A burns 1 coin

  • A is the sender, no recipient

• Address F votes on a protocol change

  • F is the sender/initiator

We would count as active senders: A, B, D and F. The value of the metric would therefore be: 4.

Coverage

• AdrActSentCnt

Active Addresses (Received)

Name	MetricID	Unit	Interval
Active Addresses (Received)	AdrActRecCnt	Addresses	1 day, 1 hour

Definition

The sum count of unique addresses that were active in the network (as a recipient of a ledger change) that day. Individual destination addresses are counted. Individual addresses are not double-counted if previously active.

Details

• Active Addresses (Received) is the sum count of unique addresses that where the receiving end of a ledger change

• For this unadjusted version of the metric, all ledger change scenarios are considered.

• Such ledger changes can include mining, staking, transacting, account creation, etc..

• If an address was active multiple times as recipient during that interval, it is counted only once.

• For ETH, miners receiving fees from the original sender of a failed transaction are counted as active receiving addresses.

Asset-Specific Details

• This metric is not available for assets that have full privacy, like Monero, Grin. For assets that have opt-in privacy features, like ZCash, it only takes the non-private activities into account.

• For SOL, all accounts that received SOL tokens (balance updates or rewards) in the period. This includes validators & delegators. Includes owner accounts and sub accounts.

• For SPL tokens, all accounts that received the SPL token in the period. This includes validators & delegators. Includes owner accounts and sub accounts.

Examples

In a given day:

• Address A mines 10 coins

  • A was recipient, no sender

• Address B sends 2 coins to each C and D

  • C and D were recipients, B was sender

• Address D delegates 20 coins to E

  • D is the sender, E is recipient

• Address A burns 1 coin

  • A is the sender, no recipient

• Address F votes on a protocol change

  • F is the sender/initiator

We would count as active recipients: A, C, D and E. The value of the metric would therefore be: 4.

Coverage

• AdrActRecCnt

Active Smart Contract Addresses

Name	MetricID	Unit	Interval
Active Smart Contract Addr Cnt	AdrActContCnt	Smart Contract Addresses	1 day

Definition

The sum count of unique smart contract addresses that were active in the network (either as a recipient or originator of a ledger change) that interval. All unique smart contracts involved in a ledger change action (recipients and originators) are counted. This metric does not double-count contracts. In other words, if a contract has been deemed active by being part of a ledger change, it is not counted again if is subsequently invoked during the same time interval.

Details

• Active smart contact address count represents the number of unique smart contract addresses that participated in a ledger change.

• For this unadjusted version of the metric, all ledger changes are considered.

• Ledger changes can include activities such as Decentralized Finance (DeFi) trades, DAO votes, token transfers, as well as any other activity facilitated by a smart contract.

• All participants of a ledger change activity are included.

• If an address was active multiple times during the aggregation interval (e.g., 1 day), it is counted only once.

Asset-Specific Details

• This metric is only available for assets that feature the notion of smart contract addresses, such as Ethereum.

Coverage

• AdrActContCnt

API Endpoints

Active Addresses can be accessed using these endpoints:

• timeseries/asset-metrics

and by passing in the metric ID's AdrAct30dCnt, AdrAct7dCnt, etc. in the metrics parameter.

Asset metrics

Returns requested metrics for specified assets. Results for block by block metrics (1b frequency) are ordered by tuple (asset, height, block_hash), all other metrics are ordered by tuple (asset, time). You can change the sorting using sort query parameter. Supported output formats are json (default) and csv, use format query parameter to override it. To fetch the next page of results use next_page_url JSON response field or x-next-page-url CSV HTTP header if present. If multiple metrics are requested in the same time the strict policy for partially available metrics among requested ones is applied:

GEThttps://api.coinmetrics.io/v4/timeseries/asset-metrics

Authorization

api_key

Query parameters

Response

200400401403414

Time series of metrics for an asset.

Body

application/jsontext/csv

data*any

next_page_tokenNextPageToken (string)

Token of the next page results for a given request.

next_page_urlNextPageUrl (string)

URL of the next page results for a given request.

Request

ShellPython

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?assets=btc&metrics=PriceUSD,FlowInGEMUSD&frequency=1d&pretty=true&api_key=<your_key>"

Response

{
  "next_page_token": "text",
  "next_page_url": "text"
}

Shell

curl --compressed "https://api.coinmetrics.io/v4/timeseries/asset-metrics?metrics=AdrAct30dCnt&assets=btc&pretty=true&api_key=<your_key>"

Python

import requests
response = requests.get('https://api.coinmetrics.io/v4/timeseries/asset-metrics?metrics=AdrAct30dCnt&assets=btc&pretty=true&api_key=<your_key>').json()
print(response)

Python Client

from coinmetrics.api_client import CoinMetricsClient

api_key = "<API_KEY>"
client = CoinMetricsClient(api_key)

print(
    client.get_asset_metrics(
        metrics="AdrAct30dCnt", 
        assets="btc",
    ).to_dataframe()
)

Release History

• Release Version: 1.0 (X, 2019)