- 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.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
