The number of Bitcoin addresses with non-zero balances hits an all-time high at 40 million
On-chain stats for February represent positive sentiment for Bitcoin as addresses with non-zero BTC balances hit all-time highs.
In addition, wallets with positive BTC balances increase coin hoarding. Accordingly Data by on-chain analytics firm Glassnode, the circulating supply of BTC last moved 3 to 5 years ago, hitting a 4-year high of over 2.8 million BTC.
Number of bitcoin addresses with non-zero balances | Source: Glassnode
The number of addresses with non-zero balances increased sharply in 2019 and 2020 until mid-2021, when the growth rate appears to be stable at around 35 million addresses. However, the growth rate of the index has skyrocketed since early 2022, leading to a new all-time high of 40,276,163, according to Glassnode.
Active Bitcoin supply 3-5 years ago skyrocketed to coincide with the peak of the last extended bull market in early 2018.
Last active BTC supply 3-5 years | Source: Glassnode
Accordingly glass node817,445 of the addresses with non-zero balances had at least 1 BTC as of Monday, a 10-month high.
Supply-side dynamics provided a number of notable indicators over the past month. FSInsight reported on Feb. 9 that 75% of the circulating supply of BTC is illiquid because it hasn’t moved in a long time. The financial research firm’s report describes the situation as a “gunpowder keg” ready to explode once a moderate amount of BTC is bought in the market.
Political unrest in Canada and Ukraine in February also shed more light on Bitcoin’s resistance to censorship. Some Canadians are using Bitcoin to protect their funds from freezing, while Ukraine’s government is now accepting donations in BTC as tensions in the region escalate.
According to CoinGecko, the crypto king is currently trading at $38,465, down about 45% from its Nov. 10 all-time high of $69,000.
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Bitcoin
The number of Bitcoin addresses with non-zero balances hits an all-time high at 40 million
On-chain stats for February represent positive sentiment for Bitcoin as addresses with non-zero BTC balances hit all-time highs.
In addition, wallets with positive BTC balances increase coin hoarding. Accordingly Data by on-chain analytics firm Glassnode, the circulating supply of BTC last moved 3 to 5 years ago, hitting a 4-year high of over 2.8 million BTC.
Number of bitcoin addresses with non-zero balances | Source: Glassnode
The number of addresses with non-zero balances increased sharply in 2019 and 2020 until mid-2021, when the growth rate appears to be stable at around 35 million addresses. However, the growth rate of the index has skyrocketed since early 2022, leading to a new all-time high of 40,276,163, according to Glassnode.
Active Bitcoin supply 3-5 years ago skyrocketed to coincide with the peak of the last extended bull market in early 2018.
Last active BTC supply 3-5 years | Source: Glassnode
Accordingly glass node817,445 of the addresses with non-zero balances had at least 1 BTC as of Monday, a 10-month high.
Supply-side dynamics provided a number of notable indicators over the past month. FSInsight reported on Feb. 9 that 75% of the circulating supply of BTC is illiquid because it hasn’t moved in a long time. The financial research firm’s report describes the situation as a “gunpowder keg” ready to explode once a moderate amount of BTC is bought in the market.
Political unrest in Canada and Ukraine in February also shed more light on Bitcoin’s resistance to censorship. Some Canadians are using Bitcoin to protect their funds from freezing, while Ukraine’s government is now accepting donations in BTC as tensions in the region escalate.
According to CoinGecko, the crypto king is currently trading at $38,465, down about 45% from its Nov. 10 all-time high of $69,000.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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