Three answers for the same indicator? Why is the data on active Bitcoin addresses so different?

Question

[Coin World] Recently noticed an interesting phenomenon - the number of active Bitcoin addresses, this basic indicator, can vary so much across three mainstream data platforms.

Glassnode has reported approximately 605,000 Addresses, Santiment's data is around 711,000, while CryptoQuant directly provided 745,000. For the same metric, there can be a difference of 140,000 Addresses between the highest and lowest, which is not a small gap.

To be honest, this situation really illustrates the current state of on-chain analysis—everyone is looking at data to make decisions, but the statistical criteria and cleaning methods of the data itself may differ completely. So sometimes, before looking at the conclusions of the report, it's necessary to clarify where the data comes from.

hodl_therapist · Accepted Answer

No wonder so many people are played for suckers, it turns out the data they are looking at is all fake

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Glassnode and CryptoQuant have a difference of 140,000 Addresses? Are they playing or what?

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Wow, the same indicator can differ so much, my previous analysis must have been completely off

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So that&#39;s why different data standards can create such huge discrepancies... No wonder on-chain analysts all have different opinions

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This is why you can&#39;t just focus on one data source, you need to reference multiple sources

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A difference of 140,000 Addresses, if this is used for trading decisions, it would really be dangerous

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On-chain data looks professional, but even the basic indicators don&#39;t match up, the industry is still too young

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No wonder I always feel that the data from different platforms is contradictory, it turns out the statistical methods are different

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This is what we call "lying with data", the same number can tell three different stories

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Glassnode might be slacking off, missing so much

BlockchainTherapist · Answer

A gap of 140,000 addresses? This is ridiculous, it feels like the data providers are each doing their own thing.

This is what I&#39;ve always wanted to complain about, the on-chain data is too deep, anyone can publish reports and everyone has their own set.

Rather than trusting what active addresses say, it&#39;s more reliable to look directly at the on-chain transaction volume of real money.

Choosing the wrong data source is basically choosing the wrong direction, too many people in this circle have been blinded by these numbers.

just_vibin_onchain · Answer

The data discrepancy is so large, no wonder traders have differing opinions.

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Glassnode, Santiment, and CryptoQuant all claim to be correct, so who should we trust?

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A difference of 140,000 addresses? That&#39;s not a small number; it&#39;s a methodological issue.

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On-chain data is like this; you have to verify it yourself, you can&#39;t just trust one platform completely.

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No wonder some people lost money by following Glassnode&#39;s advice; they might be looking at entirely different data sources.

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This is why I now refer to at least two sources when looking at on-chain metrics.

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The lack of uniformity in the statistics of active addresses is really something else; it must be so confusing.

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So many "on-chain analysts" may base their conclusions on data from just one platform, which might inherently introduce bias.

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Thinking back to a report conclusion shared by a certain influencer before, now seeing how chaotic the data sources are, it really seems a bit ridiculous.

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If this problem can&#39;t be resolved, then on-chain analysis itself isn&#39;t that trustworthy.

WalletDivorcer · Answer

The data difference is so large, no wonder I can never understand the conclusions of market analysts.

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A gap of 140,000 Addresses... I just said why some are bullish and some are bearish.

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So on-chain data is not absolute, right? It&#39;s all based on one&#39;s own criteria.

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Glassnode&#39;s 600,000 and CryptoQuant&#39;s 740,000 are simply data from two different worlds.

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This is why I never trust a single data source, I have to compare across multiple platforms.

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No wonder traders are all trapped, the data they use is simply different.

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By the way, Glassnode is the most conservative, always a bit lower.