The leading cryptocurrency, Bitcoin (BTC) kept showing exponential growth since the beginning of this week. Yesterday, the crypto surged past US$17,000, making another yearly high of US$18,393 earlier today. No doubts, the bullish performance in the market is creating more FOMO (fear of missing out) for many investors who aren’t invested in the digital currency yet.
This is evident as recent data from Glassnode, a crypto analytics platform, shows that new Bitcoin addresses were created at a very high rate during this time of the rally.
New Bitcoin Addresses Spike
According to Glassnode, new addresses created in the Bitcoin network today surged to a level not seen since January 2018. The development simply suggests that there is more adoption for the cryptocurrency presently. Many people are probably being FOMOed to buying bitcoin as industry experts and analysts continue to present their predictions that the cryptocurrency could be making another historical run in price anytime soon.
Data from Blockchain.com, the Bitcoin blockchain explorer, shows that there are 562.93K new addresses created in the network. In total, there are currently 32.81 million Bitcoin addresses with a balance that is greater than zero (i.e., non zero balance), of which 1.14 million are currently active. Addresses with zero balance totaled 653.42K, according to the explorer.
Who’s Buying Bitcoin
Although the majority of Bitcoin addresses are dominated by retail investors, the number of large Bitcoin transactions has been surging for quite some time now. There were about 17.09K on-chain transactions containing more than US$100,000 as of November 18. This shows the activeness of deep-pocketed crypto traders. Looking at the cryptocurrency’s rich list, there are 3,442 addresses holding at least US$10,000,000 worth of Bitcoin at the moment. About 26 million addresses hold US$1.
The growing list of Bitcoin richest addresses follows the surge in the crypto’s price. At the time of writing, the leading cryptocurrency is trading at US$17,840 on Coinmarketcap.