Number of new Bitcoin addresses spikes amid growing FOMO
Bitcoin is getting more popular each day. As Bitcoin (BTC) hit a three-year high on Nov. 18, more people around the world have started moving into the world’s largest cryptocurrency, according to Glassnode data.Glassnode, a major provider of cryptocurrency analytics data, recorded a major spike in the number of new Bitcoin addresses on Nov. 18.According to Glassnode, the number of new BTC addresses registered per hour hit nearly 25,000 addresses for the first time since January 2018 — the month following Bitcoin’s all-time high of $20,000. The spike in new Bitcoin addresses is still quite....
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Ethereum addresses have been on a strong, steady increase since last year, but daily transaction volumes and the number of whales on-chain are decreasing. New data reveals that the Ethereum network gained 18.36 million addresses with a balance greater than zero in 2021. That works out to an astonishing growth rate of 1.53 million new addresses per month, but competition is becoming increasingly fierce for market share.Blockchain intelligence firm IntoTheBlock shared its findings about Ethereum in a Feb. 15 tweet.#Ethereum users growth in a nutshell A good way to track the adoption is by....
Bitcoin on-chain data suggests accumulation is going on as investors feel FOMO about the current rally above $57k. Bitcoin Accumulation Goes On As Investors Feel FOMO As explained by a CryptoQuant post, on-chain data is showing signs of accumulation as BTC netflows show negative spikes, and the stablecoins inflows indicate big moves. The Bitcoin netflow […]
Bitcoin whales are not slowing down on their accumulation tour despite rising prices. Bitcoin has now hit $62K for the first time in five months and the market has rejoiced over this milestone. With more growth expected in the coming weeks, investors are making sure that they do not miss out on what the digital asset has to offer in terms of value. BTC is now the de facto internet store of value, so investors are FOMO-ing into the asset. This has translated to a higher price for BTC. However, the majority holding is still skewed in favor of the whales. These addresses which hold 100 to....
Bitcoin millionaires are now a widely understood term. This has grown from the massive surge in the price of the digital asset which has continued to decrease the number of BTC required to be a millionaire. A number of bitcoin millionaires had lost their status when the price of the digital asset had declined. However, as bitcoin is recovering, these millionaires have been growing in number but data shows that the increase in price is not the only driver. Accumulation Is The Name Of The Game The price of bitcoin had declined significantly following the Russian invasion of Ukraine. This had....
The number of bitcoin active addresses had declined following the September market crash but promptly picked up again in October. At the beginning of December, another dip rocked the market that sent addresses plummeting once more. The number had dropped well below the one million mark for the majority of November and stayed low during the bull rally. Despite the red trends recorded by the market, the first week of December has proven to be good for the market. The number of bitcoin addresses rose significantly in the last seven days, putting bitcoin well above the one million mark once....