Bitcoin Wallet Addresses At All Time High As Bitcoin Network Experiences Third Halving
On the eve of Bitcoin's Third Halving, the number of Bitcoin addresses and wallets hit an all time high.
Notably, the number of Bitcoin addresses containing less than 1 BTC has more than doubled since the second halving in July 2016, with wallets containing less than 0.1 BTC showing the highest increase.
The #Bitcoin network has seen immense growth since the 2nd halving #BitcoinHalving2020— glassnode (@glassnode) May 11, 2020
Addresses > 0 BTC: +235%
Addresses ≥ 0.01 BTC: +204%
Addresses ≥ 0.1 BTC: +142%
Addresses ≥ 1 BTC: +63.2%
Addresses ≥ 10 BTC: +11.2%
Addresses ≥ 100 BTC: -6.3%
Addresses ≥ 1k BTC: +13.2% pic.twitter.com/lqTwLkk95S
As revealed by Glassnode in a Tweet on May 11, the number of Bitcoin addresses have increased on the whole. Wallets holding less than 0.01 BTC now exceed 10 million, an increase of 235% from the Second to the Third Halving.
The second highest increase was in addresses holding between 0.01 BTC and 0.1 BTC which increased by 2014%. Perhaps worrisome for the market is the rise in whale accounts, or addresses that hold over 1000 BTC which marked a 13.2% increase.
Bitcoin Going Mainstream
The rise in small wallet addresses is evidence of the growing mainstream interest in Bitcoin and it appears that more people have been preparing for the potential post-halving bullrun.
On April 17, Brian Armstrong, the CEO of US-based crypto exchange Coinbase revealed data showing how $1,200 deposits similar to the stimulus checks being offered to Americans by the government have skyrocketed since the cheques started being sent out. Coinbase is the leading crypto exchange on American soil.
The information presented suggests that some Americans are looking at the other side of the coin in their stimulus checks as they are not using them to purchase food and goods. Instead, they are keeping their fingers crossed and investing in Bitcoin.
Bitcoin has also been becoming more popular with insitutional investors. Last night , the Bitcoin Price received a sudden bump above the $9000 mark when it was reported that b
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