• As of Dec. 12, the number of Bitcoin wallets with non-zero balance of Bitcoin reached its all-time high of 32,925,521. This hits the previous record of 32,925,198 addresses reached just the day earlier. This data was aggregated by Glassnode, which is a monitor of on-chain metrics and exchange flows.

     Addresses climbing across the entire space

    This news of an all-time high of non-zero held Bitcoin wallets is a very positive sign in the market. It indicates that more users are creating wallets and depositing BTC on them. This highlights that BTC users are interacting with the network.

    Glassnode also stated that the number of Bitcoin addresses holding at least 1 BTC also hit its all-time high with 825,988 addresses. This new record took place on Dec. 12, and Bitcoin broke its ATH for wallets with at least 1 BTC just a day earlier.

    Moreover, according to Chief Economist of Chainalysis, Philip Gradwell, Bitcoin wallets that hold over 1,000 Bitcoin (currently worth about $19 million) also rose by 17% in 2020, pointing to increased intention by retail and institutional investors.

    Into the ether

    These ATHs are not only happening across the Bitcoin ecosystem, but also in Ethereum. Glassnode shows that the number of Ethereum addresses holding a non-zero amount has surpassed its all-time high too, totaling 50,476,989 wallets. Similarly, the previous ATH for non-zero Ethereum addresses was also the previous day, showing new ATHs are expect across both cryptocurrencies.

    When viewing the charts of non-zero address in Bitcoin and Ethereum wallets, the graph shows exponential growth. However, the graph detailing addresses with over 1 BTC looks to be following a linear growth pattern.

    Increasing price and interest

    This past year, we have faced a gradual growth across the entire crypto sector. Major cryptocurrencies like Bitcoin and Ether are double, tripling, or more. There is a wide variety of factors leading to this growth. Global economic instability is a broad influence. More narrowly, there is interest in BTC as a reserve hedge against inflation, the launch of Ethereum 2.0, and much more.

    All of these factors have resulted in an overall increase in market cap of the crypto sector, so it healthy to see the number of usable wallets rise as well. All of these signs point to a continuously growing and healthy ecosystem.

    Your rating to this post

    average scores 5 out of 5
    Vote count: 1 Vote