2 November 2024
Total Number Of Bitcoin Wallet Addresses Hits New All-Time High
Bitcoin has faced severe price challenges and a drop in network activity in the past few days but still, Bitcoin wallet addresses have reached an all-time high. According to IntoTheBlock’s on-chain data, around 40 million addresses are holding the flagship Cryptocurrency as of March 14.
These are the signs that show Bitcoin is witnessing widespread adoption.
Since the start of this year, over 888,000 new addresses have joined the Bitcoin network, with an average of 39.79 million addresses.
Although, there is a huge gap for those who hold between 1,000 and 10,000 BTC. Bitcoin wallets that are holding around 1,000 BTC have been making significant purchases since October 2020, while Bitcoin whales are selling their holdings as opposed to acquiring and holding. This will make it difficult for the market to sustain an upward trend in the long run.
Currently, Bitcoin is trading at $38,570 by 0.8 % from the past 24 hours, according to data from CoinMarketCap.
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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