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The number of bitcoin holders is on the rise despite the continued bear market!

The number of bitcoin holders is on the rise despite the continued bear market!

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Answer The number of bitcoin holders is on the rise despite the continued bear market!

Even though the price of bitcoin has been dropping for several months, this may not necessarily mean that bitcoin adoption is slowing.

Data from IntoTheBlock shows that the number of non-zero Bitcoin addresses has increased steadily since the peak of the crypto market in November 2021.

The number of bitcoin holders is different for this reason!

indicating platform”IntoTheBlockThe number of current Bitcoin addresses is estimated at 41.9 million, all of which hold balances on the Bitcoin network.

That number is only slightly below the all-time high of 42.07 million titles recorded in early August.

Read:Portugal Tax Authority: Cryptocurrencies are tax-free

She told IntoTheBlock on the matter:

The number of Bitcoin holders is growing in the bear market

More than 42 million addresses currently hold 4.5 million bitcoins more than a year ago.

Bitcoin Addresses vs Price – Source: IntoTheBlock

Addresses are not necessarily translated to new users.

One person may use multiple addresses (eg for security purposes), while many people may use one address (eg cryptocurrency exchanges).

For example, some of the popular wallet providers like Ledger store multi-address accounts in their systems by default.

This means that the wallet generates a new address for the user each time they choose to receive cryptocurrencies on their account within the program.

This measure aims to increase privacy on the chain for users, making their payments more difficult to associate with their identity.

The ratio of active Bitcoin addresses to addresses with balances is just 2.36% this week, down 12% since 2013.

In absolute numbers, daily active addresses peaked in 2021, and since then they have been hovering around 1 million active addresses.

Read:A huge rise in the number of jobs in the field of blockchain and cryptocurrency in Asia

Bitcoin holders distribution:

IntoTheBlock data shows that the concentration of Bitcoin ownership is now 89.6% in the hands of individuals.

However, individual Bitcoin holders or “retail” traders are defined as holders of Bitcoin with a value of less than 0.1% of the circulating supply.

This amounts to 19,000 bitcoins, more than the amount held by billionaire Michael Saylor.

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In terms of investor types, the data shows that long-term Bitcoin “Hodlers” – addresses that have held their cryptocurrency for more than one year – are the most popular, at 29.78 million.

While addresses that held bitcoins from 1 to 12 months are 14.85 million, while the remaining addresses are 2.33 million.

In the long run, it appears that Hodlers are constantly rising and amassing a larger share than all the other owners, while traders usually peak and fall with bitcoin price cycles.

Data from Glassnode last week showed that long-term holders recently sold their bitcoins at a loss.

Read also:

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Bitcoin hash rate has grown over 4 quadrillion percent since 2009


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