The number of Bitcoin addresses holding even the lowest denomination of the cryptocurrency (satoshi) has reached a new milestone, nearing 50 million. This surge in non-zero addresses signifies the growing interest in BTC and its adoption among investors.
According to data from Glassnode, a leading blockchain data and intelligence provider, the number of BTC addresses with non-zero balances reached an all-time high of 47,857,099 on July 30. This marks a significant increase from the less than 40 million wallets observed towards the end of 2022.
One possible reason for this upward trend is the rising popularity of BTC Ordinals. These are addresses that hold at least 0.01 BTC, equivalent to approximately $300 at current prices. Glassnode reported that the number of addresses with 0.01+ coins spiked to an ATH of over 12.2 million.
Furthermore, the number of wholecoiners, which are addresses containing at least one bitcoin, has also seen a notable surge. LookIntoBitcoin data shows that the number of wholecoiner addresses exceeded one million, following a strong rally towards the end of 2022 and a steady increase throughout this year.
Another interesting development in the crypto space is the growing number of BTC Ordinals inscriptions. Currently, there are over 20 million BTC Ordinals, according to data from Dune Analytics. July has been a particularly strong month for Ordinals, mirroring the record interest observed in April and May.
Many members of the crypto community argue that the rise of Ordinals has contributed to increased utilization of the Bitcoin blockchain. One group that has benefited from this trend is BTC miners, who have enjoyed higher fees during the NFT hype season.
Overall, the surge in BTC non-zero addresses and the growing interest in BTC Ordinals indicate a positive sentiment towards Bitcoin and its potential as a store of value. As more individuals and institutions enter the crypto space, the number of Bitcoin addresses is likely to continue its upward trajectory.
Note: The content above is a product of artificial intelligence and does not reflect the views or opinions of any individual or entity.