A touch of upswing: Bitcoin addresses at a record high

Not only the number of Bitcoin addresses has reached a new peak. The BTC trading volume is also at a record level. The market update.

The crypto market is denting yesterday’s dent and is slowly turning the pointer back to green. Total market capitalization is up two percent on the day and at the time of going to press it only just barely hits the 2 trillion mark. The exchange token stands out among the ten most valuable cryptocurrencies Binance Coin (BNB) stood out most clearly from the competition with an increase of nine percent. Ethereum ranks second in the top 10 coins with an increase of almost three percent. This is followed by Bitcoin (BTC) and XRP, each with a two percent price premium. Polkadot (DOT) and Dogecoin (DOGE) at least recorded moderate growth of up to one percent.

On the losing side are Cardano (ADA) and Solana (SOL), who turn into the red with 1.7 and 1.1 percent. In a weekly comparison, however, the entire list of the largest cryptocurrencies by market capitalization is still in the red. Dogecoin and Polkadot have the biggest arrears to catch up with double-digit discounts. On the other hand, Bitcoin and Binance Coin their losses gradually. Both cryptocurrencies are only 0.5 percent in the red on a weekly basis.

Bitcoin addresses on the rise

After the sleepy summer months, more and more investors are gradually pouring into the Bitcoin network. Both the number of addresses holding 0.01 bitcoin or more and the number holding 0.1 and more bitcoin have hit new record highs. The network currently has over 9.1 million addresses that hold ≥ 0.01 BTC and over 3.2 million addresses that hold ≥ 0.1 Bitcoin.

In contrast, the number of whale addresses continues to decline. According to Glassnode, the network currently has 147,000 addresses that hold 10 or more Bitcoin.


BTC transaction volume hits record high

This development correlates with a significant increase in trading volume. On Sunday, September 26th, Bitcoin transaction volume hit a new all-time high of $ 29 billion. The analyst Kevin Rooke according to there have only been five days “on which the Bitcoin network has turned over more than 20 billion US dollars”. Three of them were this week.

Hodl mood

Both short-term and long-term investors seem to be in the mood to buy again. According to According to a Cryptoquant analyst, “short-term hodlers increase the number of their Bitcoin holdings very dynamically”. The same applies to medium-term and long-term hodlers who “return to accumulation”.

Overall, an accumulation trend among investors can be deduced, which ultimately allows only one conclusion for the analyst: “We are still in the bull market”.



source site