Definition. This chart presents the net growth of the network's address base: the total number of addresses holding a non-zero balance 🟠, together with its smoothed daily change shown as green 🟢 (net growth) and red 🔴 (net contraction) columns, alongside price (grey).

Technical. Net address growth is the day-over-day change in the non-zero balance address count, smoothed with a 14-day EMA and split by sign:

• Net Address Growth = ema(diff(Non-Zero Balance Addresses, 1), 14)
• Positive values 🟢 and negative values 🔴 are plotted as separate column series.

Interpretation. A growth in the number of non-zero balance addresses 🟢 indicates a larger degree of on-chain activity is taking place, with new wallets being funded faster than old ones are emptied — behavior typical of adoption phases and rising network utilization. A reduction 🔴 indicates a consolidation, and potentially a purging of wallets is taking place, as balances are swept together or moved to exchanges and the address base shrinks. Because the series is smoothed over two weeks, sustained sign changes mark genuine regime shifts in address growth rather than daily noise. Address counts are not a perfect proxy for user counts — one entity can control many addresses — so this chart is best read as a trend gauge rather than an absolute census.

Notes. Built from Addresses with Non-Zero Balance; for Bitcoin, this corresponds to the set of addresses contained within the protocol's UTXO set. See also New Address Momentum and Active Address Momentum for momentum views of network activity.