Non-Zero Bitcoin Wallets Increase by 3.7M, Hitting New ATH 47 Million

  • Glassnode reports a new ATH of 47.8M Non-Zero Bitcoin Addresses.
  • The figure represents a significant increase from the previous value.
  • Santiment observes fear-driven discussions surge as FOMC hikes rates.

In a recent tweet, Glassnode, a renowned provider of on-chain and financial metrics for cryptocurrencies, announced a remarkable milestone for Bitcoin (BTC). According to its data, the number of Non-Zero Addresses for Bitcoin has surged to an all-time high, reaching an impressive 47,857,099. 

This latest data from the analytics firm implies that over 47 million Bitcoin wallets have a balance of at least one satoshi —the smallest unit of Bitcoin. The figure represents a significant increase from the 44.06 million addresses the firm reported earlier this year. 

Furthermore, Glassnode displayed a chart showing the trajectory of these addresses over the last 13 years. The chart showed a positive progression dating from 2010 as the price of Bitcoin grew significantly over the years. 

Notably, the number of non-zero Bitcoin addresses is a metric often used to measure the adoption of Bitcoin. A higher number of non-zero addresses could indicate that more people are investing and holding on to Bitcoin.

On the other hand, the prominent market intelligence firm Santiment made a significant observation regarding Bitcoin. According to its tweet, the ratio of discussions revolving around Bitcoin compared to other top 100 assets has experienced a substantial surge. 

The firm attributed this noteworthy spike in social dominance to the U.S. Federal Open Market Committee (FOMC)’s decision to hike rates, causing Bitcoin to tease the $30k mark again. 

Analysts at Santiment have interpreted this surge in social dominance as a potential sign of fear among market participants. Interestingly, they suggest that such heightened levels of fear often correlate with an increased likelihood of a price rise for Bitcoin.

Bitcoin trades at $29,293.37 at press time, with a slight 2% decline over the last seven days.

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