In a recent update, Glassnode, a prominent cryptocurrency data provider, reported significant developments in the Bitcoin ($BTC) network. These developments highlight the growing strength and activity within the Bitcoin ecosystem.
Glassnode reported that the number of addresses holding 1 or more Bitcoins has reached an all-time high (ATH) of 1,018,606. This milestone underscores the increasing interest and participation of individuals and entities in the Bitcoin market. The previous ATH was 1,018,606, demonstrating sustained growth in Bitcoin adoption.
BTC addressed last active between 6-12 months, hit 1-month high
Additionally, Glassnode’s data reveals another noteworthy trend in the Bitcoin network. The amount of Bitcoin supply that has been last active between 6 months and 12 months, as measured by the 1-day moving average (1d MA), has surged to a one-month high. This metric now stands at 1,954,993.998 BTC. This increase in activity among Bitcoin holders in this specific timeframe suggests renewed confidence and engagement among long-term investors.
These developments come at a time when the cryptocurrency market has been experiencing increased volatility and uncertainty. Bitcoin, as the flagship cryptocurrency, often sets the tone for the broader market. The growing number of addresses holding Bitcoin and the increased activity among long-term holders indicate that despite market fluctuations, Bitcoin continues to garner interest and trust.
As Bitcoin continues to evolve and adapt to changing market conditions, Glassnode’s data provides valuable insights into the network’s health and the behavior of its participants. These recent milestones further underscore the resilience and attractiveness of Bitcoin as a digital asset and store of value in an ever-changing financial landscape.
