bitcoin addresses

It’s been nearly three years since the Bitcoin price has reached a benchmark of over $15k and it doesn’t seem to be stopping. But, it’s not just the price of BTC that is overflowing. New Bitcoin addresses have also skyrocketed. 

On November, 18th, one week after Bitcoin broke its 15K boundary, Glassnode, a crypto-analysis company, tweeted an unusually high number of BTC accounts being created. 

According to Glassnode, the address per hour rate increased to almost 25,000, a rate not seen since January 2018 when BTC hit $20k. 

To put this number into perceptive, the most Bitcoin address ever created within a 24-hour period was on December 21, 2017 when nearly 600,000 popped up. Will we see this FOMO craze again if BTC hits $20k by the end of the year?

We have seen a steady rise in public BTC implementation as well as business incorporation this year. This caused the price of BTC to go from $4k at the beginning of 2020 to $18k currently. 

However, universal usage is still minuscule with as much as 5.8 million cryptocurrency wallets active in 2017. That equates to less than .1% of the global population own crypto. 

It will be interesting to see the adoption rates increase as the BTC price continues to rise and steady at a price that most people feel comfortable enough to buy, use, and save longterm. 

If you are just getting started with buying cryptocurrency then read our 8 Ways to Avoid Cryptocurrency Scams.

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