888,262 Bitcoin addresses now contain at least one Bitcoin
Bitcoin addresses holding at least one BTC reached an all-time high of 888,262 on Saturday. Based on the current Bitcoin price, each wallet has more than $22,000 in bitcoin.
Whale Bitcoin addresses have also increased in recent weeks. Glassnode, an on-chain monitoring platform, reports that 101 addresses on the Bitcoin network currently contain at least 10,000 bitcoin, the highest number in four weeks.
Bitcoin has made a dramatic comeback in the last week, following an almost 70% drop in the previous seven months. Due to BTC’s recent resurgence, the overall number of BTC addresses in loss touched 17 million on Friday, the lowest level in a month.
In addition to whale accounts, activity on minor BTC addresses has increased in recent days. “The total number of BTC addresses holding 0.01+ coins has just surpassed 10,535,795. “The previous ATH of 10,535,325 was seen on July 20, 2022,” Glassnode stated in a Tweet on July 22, 2022.
Ethereum and Bitcoin
In terms of weekly gains, Bitcoin increased by more than 10%, while Ethereum increased by more than 30%.
Farah Mourad, Senior Market Analyst at XTB MENA, commented on the latest price action in the crypto market, saying, “For now, the more likely scenario, the cryptocurrency market’s gains will be supported as long as we continue to see the recovery in the stock market, and a reduction in recession and geopolitical tension fears.” Nonetheless, during a cryptocurrency market recovery, it is worthwhile to invest in smaller projects. Smaller projects can provide increased volatility for individuals searching for bigger waves to surf as Bitcoin and Ethereum become safe havens in the crypto world.”
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