Active Address Cohorts

Active address cohorts are segments of the user base categorized by their transaction frequency, balance size, or longevity on the network. By tracking the behavior of these cohorts, analysts can distinguish between speculative retail activity and long-term institutional accumulation.

For example, a decrease in active small addresses alongside an increase in large "whale" addresses may signal a consolidation phase. Understanding the composition of these cohorts helps in assessing the health and maturity of a blockchain project.

It provides a deeper layer of fundamental analysis beyond simple transaction counts. This segmentation is vital for identifying shifts in market ownership and predicting potential support or resistance levels based on historical holder behavior.