This article introduces the New Holders metric and how to capture bullish and bearish signals via this metric.
The New Holders metric refers to the amount of new and unique addresses once ever holding a particular cryptocurrency in a set time.
For example, suppose the number of addresses of examplecoins increased from 1,000 to 1,500 today. The New Holders today of examplecoins are 500 (1,500 – 1,000).
How can I use it?
Generally, the number of New Holders can tell you whether a project is attracting newcomers. Likewise, it’s a way to reflect whether the project/token is making some noise in the market.
Identify bullish and bearish signals
Positive signals that a token with ever more new-coming investors. Investors are buying or receiving this token in their wallet addresses. Therefore, the price might go up.