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Non-zero Bitcoin addresses reach a new all-time high of $ 400 million for DailyCoin

Non-zero Bitcoin addresses reach a new all-time high of 400 million by 400 million

The adoption of Bitcoin has been a mantra since its launch in 2009. Although Bitcoin is far from replacing fiat as a payment option, 2021 has shown us that the world is rapidly adopting bitcoin.

Confirming this, data and intelligence provider Glassnode blockchain reported that the number of Bitcoin addresses with a non-zero balance has reached an all-time high of 38.76 million addresses.

Number of Bitcoin addresses with non-zero balances. Source: Glassnode

Prior to this milestone, the largest non-zero BTC addresses (38.7 million) were recorded on April 23rd. The number of Bitcoin addresses has continued to rise since April, despite the Bitcoin correction, although its price has dropped from $ 68,000 to $ 56.8. .

The fall in BTC prices is not a concern

While Bitcoin is experiencing a turbulent time, the chain’s activity has increased significantly. In addition, the inflow of institutional investors has increased, with investors injecting $ 114 million last week.

By consolidating this point, the expenditure of long-term holders has been reduced. Instead of selling, investors are adding more positions, believing that Bitcoin would surpass its previous highs.

On The Flipside

  • Judging the adoption of Bitcoin by the number of Bitcoin addresses has one major flaw: an individual can have more than one Bitcoin address, and exchanges can have multiple user BTCs in one address.

Why should you care?

The ever-growing number of bitcoin addresses shows that more people are turning to Bitcoin.

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