1 August 2026
Bitcoin Network Tapped One Million New Addresses in November
As per Glassnode, over 913,000 new BTC addresses were created from November to the start of December 2021.
The Twitter flood also displays that the macro outlook for BTC remains sound, despite bearish price action. Reportedly, from June 2020 to December 2021, wallet addresses with a balance greater than zero increased from 30 million wallets to a touching distance of 40 million.
Glassnode refers to the non-zero balance metric as the number of unique addresses holding a positive amount of coins. When the number trends up, new users enter the Bitcoin network. When it trends down, users are emptying their wallets to zero. By inference, wallet addresses’ fall is a low price action indicator.
In light of November’s new entrants, festive celebrations, and Omicron fears helped potential investors to research Bitcoin and potentially invest. However, December backs up the claim, as the balance changes for wallets holding 1 BTC or less, typically suggesting small scale investors, reached their highest since March 2020.
However, there is a note of caution regarding the future of retail. William Clemente, a BTC analyst, tweeted a series of graphs with the message, “retail interest in Bitcoin is pretty much gone since the Spring.” While it was widely reported in October that institutions are buying Bitcoin rather than gold, Google Trends search data suggest that “Bitcoin” is a quarter of what it was during the December 2017 peak. Retail mania is some ways off.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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