Bitcoin

Bitcoin Now Has Over 1 Billion Unique Addresses

With 158 million and 148 million unique addresses respectively, Ethereum (ETH) and Litecoin (LTC) are lagging far behind Bitcoin (BTC) when it comes to network usage.

Bitcoin Now Has Over 1 Billion Unique Addresses 5

The latest market crash has plunged Bitcoin into turmoil. Falling from a November all-time high of $69,000 to a two-year low of $17,000, BTC has dragged the rest of the market into the red.

However, unlike the rest of the crypto market, BTC does not see activity on its network dwindling.

The latest data from Glassnode shows that the total number of unique addresses on the Bitcoin network hit an all-time high. More than 1 billion unique addresses are currently involved in Bitcoin transactions. This growth rate is unique to Bitcoin.

Graph showing total number of unique addresses for Bitcoin, Ethereum and Litecoin. Source: Glassnode

Ethereum, the second largest cryptocurrency by market capitalization and network size, is lagging far behind. With 158 million unique addresses participating in an ETH transaction, Ethereum has yet to experience the same growth rate as the Bitcoin network.

Bitcoin Now Has Over 1 Billion Unique Addresses 6

Litecoin, once the third largest cryptocurrency by market capitalization, trails behind Ethereum with 148 million unique addresses. And while the number of unique Litecoin addresses is growing at a faster rate than the number of addresses on Ethereum. However, both networks are stalled in 2022.

Litecoin’s transaction volume and transaction volume have dropped significantly since the beginning of the year.

Bitcoin Now Has Over 1 Billion Unique Addresses 7

Ethereum has seen a similar drop in activity, with gas prices recently hitting a one-year low and its daily transaction count plummeting since the start of the summer.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.