Bitcoin entered this year in the range of 7,500-8 thousand dollars. Proceeding above $ 8 thousand for a while, Bitcoin fell to $ 4 thousand after the fall on March 13.
Bitcoin has not yet been able to fully recover itself after this drop. However, the price has still reached between 6,500-7 thousand dollars. This drop in price has, of course, negatively affected many investors. However, there is currently a picture that can hope these investors.
Number of Addresses Increasing
According to the chart shared by Glassnode, the number of addresses in the Bitcoin network has started to increase rapidly.
As can be seen in the graphic above, the total number of addresses with at least 0.01 BTC (around $ 70) at the beginning of this year was around 7.8 million. But this number has reached up to 8.2 million today. This shows that more than 400 thousand new addresses have been opened in the past 3 months.
If we pay attention to the increase in this chart, we can see an increase in the rate of increase in address, especially after March 13, that is, after the price has fallen. While around 150 thousand new addresses are opened until March 13, we see that the remaining addresses are opened after this date.
Whales Are Also Increasing
Over the past few months, there has been an increase in the number of not only small addresses but also large addresses, in other words whale addresses.
Glassnode currently considers addresses with at least 1000 BTC as whale addresses. In an article we shared recently, we examined the current status of these addresses. As can be seen in the graphic below, the number of whale addresses has reached the highest level in the last 2 years.