The on-chain activity of Bitcoin ($BTC) has witnessed a notable increase over the past weeks. As per the data from Nexo, the active Bitcoin ($BTC) addresses have recently surpassed the 912,300 mark in number, as of February’s end. This development is necessary as the respective level was previously seen back in December 2024.
Given the circumstances, the increase in active numbers indicates a 3-month high at the moment. Based on this, investor engagement is seemingly growing to a great extent within the Bitcoin ecosystem.
Bitcoin Market Records 3-Month Peak in Number of Active Addresses
The statistics provided by the financial services provider Nexo point out a three-month high number in the case of Bitcoin’s active addresses. This suggests a likely shift in the overall investor sentiment. The market data highlights that, during the past months, the active addresses have been going through huge fluctuations. Nonetheless, in the last days of the past month, the market participation has gone through a renewal.
As a result of the increase in Bitcoin ($BTC) active addresses during February, this figure has touched a three-month peak. In line with historical trends, the rising active addresses often pave the way for noteworthy price movements.
Bitcoin ($BTC) Surge Hints at Rising Demand
Overall, such a development reveals the growing network usage and demand. The rise in these addresses also takes place during periods of huge market speculation. Thus, many consider this to be an indication of an inflection point in the Bitcoin market.
According to Token Terminal, in line with the historical developments, this activity spike in the Bitcoin ($BTC) ecosystem could suggest the potential approaching volatility. The huge price rallies have often been preceded by such activity surges. On the other hand, it could also highlight profit-taking and could trigger provisional corrections.
