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1 million bitcoin wallets are used in the world every day

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What Would Happen To Bitcoin If Satoshi Nakamoto’s 1 Million Coins Moved

1 million bitcoin wallets are used in the world every day

1 million bitcoin wallets are used in the world every day
CONTENT

  • The number of active bitcoin addresses reaches the highest levels since 2018.

  • Improved sentiment led to an increase in user activity.

  • Bitcoins began to flow from the whales to holders of small amounts.

International consortium of news organizations developing transparency standards.

The number of active bitcoin wallets has reached the highest values ​​since January 2018, and the distribution of coins by address is becoming more democratic.

1 million bitcoin wallets are used in the world every day

Average daily active bitcoin addresses topped 1 million for the first time since January 2018, according to the latest data from research firm Glassnode.

This statistic includes addresses that were active on the bitcoin network as a sender or recipient of funds. At the same time, Glassnode experts took into account only the addresses involved in successful transactions.

You can read about the most popular cryptocurrency wallets here and here.

The return of bitcoin

Earlier, the editorial staff of BeInCrypto already talked about the continued growth in the number of cryptocurrency wallets against the background of increasing public interest in the crypto industry. Now the indicator marks a new milestone.

The last time the number of active addresses exceeded the 1 million mark only after the legendary rally in the bitcoin rate (BTC) to the $ 20,000 mark at the end of 2017. During the subsequent crypto winter, the mainstream media managed to write off the cryptocurrency from the accounts, but now it is returning to the game again..

1 million bitcoin wallets are used in the world every day

The growth in the number of active addresses quite understandably coincided with the growth in the MTC rate in recent weeks. According to Glassnode’s graph, since 2018, these two metrics have generally been largely correlated with each other, which has not been seen before..

It is possible that now the interest of the general public in the crypto market has increased against the background of investors seeking alternative defensive assets to hedge inflation risks. So, we have already talked about the rally in gold to new historical highs and its correlation with bitcoin as “digital gold”. Silver also renews highs, and at the same time demonstrates a similar dynamics to Bitcoin.

Is the threat of inflation really real now? Join the discussion in our Telegram channel – and you will find out everything!

Recently, the co-founder of the analytical firm DAR Crypto Lucas Nuzzi also noted that the number of Bitcoin addresses with at least $ 10 on their balance reached a new all-time high of 16.6 million. A similar situation is observed in the Ethereum address segment (6 million). Such indicators were not observed even at the peak of the 2017 bubble, he adds. According to Nuzzi, this is an indication of the beginning of a new cycle of mass adoption of cryptocurrencies..

Bitcoin whales are losing ground

Glassnode also found that over the past several years, the number of bitcoin whales holding tens of millions of dollars worth of bitcoin has steadily declined. Whales were slowly losing market share to smaller coin holders.

According to the data obtained, the percentage of addresses with 100 to 100 thousand BTC on their balance decreased from 62.9% to 49.8%. Meanwhile, the number of wallets storing no more than 10 BTC increased over 5 years from 5.1% to 13.8%.

1 million bitcoin wallets are used in the world every day

However, do not forget that crushing large amounts and distributing them to multiple addresses is a popular practice in the crypto market. For example, we recently talked about how the largest anonymous bitcoin wallet withdrew almost $ 1 billion from its account, sending them to other unknown addresses..

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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