07 Dec 2021
Active Bitcoin addresses reach 1 million
Sleeping bitcoin holders seem to have been woken up by the weekend volatility, as we saw a significant increase in the number of active addresses. The number of active addresses is now more than 1 million and sits at a seven-month high.
Last time we saw such a high level of active addresses was in May when bitcoin crashed. At that time, the number of active addresses surpassed 1.2 million.As the markets calmed down at the beginning of the summer, bitcoin holders fell asleep with the number of active addresses bottoming out at the beginning of July at less than 750,000.Since the bottom at the beginning of July, active addresses has increased steadily as the network has become more active.It will be interesting to see if the recent surge in the number of active addresses is temporary following the sell-off, just like we saw in May. Will bitcoin holders go back to sleep after selling their holdings, or will the number of active addresses continue to grow?