Bitcoin active addresses and new addresses grown with a special uptick since 2017: 124 million in total

By Selena 01/12/20 9:11 AM

Bitcoin has shown significant growth in adoption and the potential to reach new users. In particular, the number of active addresses and new addresses has grown significantly, with a marked increase since 2017. Even in the market of falling prices, and a reasonably peaceful 2019, the number of addresses New continues to rise at over 300,000 new addresses every day.

Bitcoin new addresses spike

After Bitcoin entered the most active bull market in December 2017, ownership expanded, with a total of 124 million newly-created addresses. According to Decentralized, even in the bearish market, and a reasonably peaceful 2019, the number of new addresses continues to increase, at over 300,000 new addresses every day.

Source: Decentralized

The past decade has also seen a large number of BTC hodlers. And in fact, hodling is one of the most prominent models in BTC ownership. In particular, the number of people holding more than 0 BTC in January 2011 was only 70,0000. Today, that number is north of 28 million – a growth of 400 times in the decade.

Of course, during that time, more than 18 million BTC were minted. This allows a large number of users to access cryptocurrency. Besides, several other factors, such as the number of newly established cryptocurrency exchanges and added retail adoption, have spurred a growing number of Bitcoin addresses.

Overall, small-scale and “whale” wallets grew significantly after Bitcoin became a trend in 2017.

The number of transactions and the value of Bitcoin also peaked

The activity on the Bitcoin chain has also grown significantly. From just a few hundred transactions per day in 2011, Bitcoin now easily handles more than 300,000 transactions per day. A peak has reached this December, with activity slacking off for now.

Although the Bitcoin network is still slower and makes fewer transactions than some altcoins, BTC is also highly capable of large-scale value transfer. The transferred peak value occurred in early 2018 when the Bitcoin price was near the highest level. Fees are also increasing, although they are still useful and have totaled $ 1 billion.

But the most significant growth has been seen in the mining ecosystem, which has repeatedly expanded with new generations of ASIC rigs. Now a further expansion is possible with high-powered machines, as well as established links with hydroelectric power in China, Russia, and the United States.