Definition. The number of unique entities that appeared for the first time in a transaction of the native coin in the network.

Technical. Entities are clusters of addresses estimated to be controlled by the same actor, identified through advanced heuristics and Glassnode's proprietary clustering algorithms. Entity-based metrics rely on statistical and data-science methods that are refined over time. The series is therefore mutable: its established history is stable, but recent data points may revise as clustering improves. For methodology, see our article on account-based metrics. The computation requires statistical information from several days and is therefore only available with a lag of one week.

Notes. For more information, see our article on how many entities hold Bitcoin.