Bitcoin price fell below $ 7,000 just recently. Some analysts think the price will continue to drop for a while and warn investors. However, as the price dropped, two new records came from the Bitcoin network.
Record from Whales
According to the data shared by Glassnode, two new records were broken in Bitcoin addresses worldwide. One of these records came from addresses that are thought to belong to investors called ‘whales’, in short, whale addresses.
Glassnode currently classifies addresses that contain more than 1000 BTC as whale addresses. According to the instantaneous rate, these accounts contain Bitcoin worth at least $ 7 million. And a new record was seen in the number of these addresses.
The number of these addresses has reached a higher level than ever before for 2 years. According to the graphic shared by Glassnode, the number of whale addresses with Bitcoin has not been so high since January 2018.
Highest of All Time
As can be seen in the graphic above, the highest level of the last 2 years has been reached in the number of addresses containing at least 1000 BTC. However, this is not the only development in Bitcoin.
Again, according to another study by Glassnode, there is a serious increase in the number of smaller addresses. Currently, the number of addresses with at least 1 BTC has reached its all-time high.
We do not know exactly who these addresses belong to, or more precisely, how many addresses they have. Therefore, it would not be correct to interpret the increase in the number of these addresses as “The number of Bitcoin investors is increasing”. However, the increase in the number of these addresses may be an indication (if not certain) that BTC usage is increasing.