MORPHO: Active Address Sentiment Indicator (AASI)
Shown as its Jan–Mar 2025 sample; the latest readings and full history are included with Plus.
The MORPHO price's 28-day percentage change against the 28-day percentage change in its daily active addresses, with a band of one standard deviation either side of the address change's recent average.
Why use it. Network use and price tend to move together over weeks. When the price climbs much faster than activity, the rally runs ahead of the network; when it falls much faster, selling has outrun any drop in use. How to read it. The price line above the upper band: price growth has outpaced activity by more than its usual spread, as in overheated rallies. Below the lower band: the price has fallen further than activity, as in oversold dips. Inside the band the two agree. It is a short-term gauge of stretch, not a forecast.
Calculation. Price change = 100 × (the day's close ÷ the close 28 days earlier − 1); address change = the same for the day's active addresses. Band = the mean of the last 28 daily address changes ± their population standard deviation. Comparing days four weeks apart keeps the weekday the same. Active addresses are the published MORPHO Active Addresses chart, counted from our own Ethereum archive node; prices are the published MORPHO daily price chart (each UTC day's close). Closed UTC days only: a day still open has counted only part of its addresses. Values take the finality of their inputs and are recomputed every half hour.