- 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 âthe smallest unit of Bitcoin. The figure represents a significant increase from the 44.06 million addresses the firm reported earlier this year.Â
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.Â
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.Â
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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