Сеть Биткоина теряет активных пользователей несмотря на рост числа транзакций

cryptonews.ruPubblicato 2025-11-20Pubblicato ultima volta 2025-11-20

Аналитики отметили тревожное расхождение между ценой и ключевыми показателями сети Биткоин. По их словам, среднее число активных адресов за 30 дней упало до 11-месячного минимума. При этом общее количество транзакций, напротив, достигло максимума с начала 2025 года. Такое противоречие сигнализирует о шатком фундаменте текущего рынка.

По их мнению, увеличение сетевой активности связано не с расширением базы пользователей. Основным драйвером выступают новые протоколы, такие как Runes, которые позволяют минтить токены. Этот процесс нередко сопровождается тысячами мелких транзакций от ограниченного круга юзеров или даже ботов. В результате метрика искусственно раздута, в то время как реальное участие пользователей снижается.

Ключевой показатель — число активных адресов — продолжает падать. Это указывает на сокращение количества реальных участников сети. В отличие от транзакционного бума, это снижение отражает реальное ослабление пользовательского интереса к Биткоину как инструменту для платежей и средству сохранения стоимости.

«Нынешний всплеск транзакций относится к низкокачественной активности. Он связан со спекулятивными экспериментами внутри ограниченных сегментов экосистемы, а не с массовым принятием BTC. Подобные искажения метрик создают иллюзию здорового роста, хотя фундаментальные показатели говорят об обратном», — заявили аналитики.

На фоне сокращения базы пользователей, цена BTC остается вблизи $116 000. Однако поддерживается она во многом спекулятивным ажиотажем, а не устойчивым ростом спроса. Такая диспропорция делает рынок уязвимым перед резким снижением.

Ситуация, при которой цена остается высокой, а пользовательская активность падает, повышает вероятность крупной коррекции. Спекулятивные протоколы не способны удерживать цену в долгосрочной перспективе.

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