Bitcoin News- Just one Bitcoin wallet address might not always correspond one user.
- A massive 190,000 addresses were added beginning at the begining of Feb 2022.
More than one million unique Bitcoin wallet addresses now contain one Bitcoin or even more. Based on information collected by Glassnode, the millionth was achieved on May 13.
There is a substantial rise in the amount of wallet addresses holding one Bitcoin or even more because the cost of Bitcoin came by over 65% during the period of this past year, using the largest increases occurring throughout a severe market crash in June and from November 11, the time that FTX went lower and subsequently declared personal bankruptcy.
Purchasing the Dip
Because the cost of Bitcoin declined from the November 2021 highs, a massive 190,000 approximately “wholecoiners” were added beginning at the begining of Feb 2022. The co-founding father of Glassnode, lately advised his 54,000 Twitter supporters to buy Bitcoin only if there’s “blood within the roads.”
His remarks consume a string of unsuccessful U.S. banks and rumors the Fed may suspend its rate of interest increases soon. Glassnode “remains confident” that Bitcoin will hit $35,000 within the mid-term for various reasons, including individuals in the above list.
While “one million” certainly sets a brand new benchmark, it’s remember this that the single Bitcoin wallet address might not always correspond one user.
Multiple Bitcoin addresses are used by lots of cryptocurrency investors, while other addresses fit in with huge entities like cryptocurrency exchanges and investment companies. From the roughly 19 million Bitcoin in circulation today, CoinGlass reports that 1.89 million BTC (worth $50.7 billion) are stored on big centralized exchanges like Binance and Coinbase.
