Bitcoin Adoption Reaches ATH with Over 46 Million Non-Zero Addresses
Bitcoin adoption is on the rise, and according to Glassnode, a blockchain analytics firm, the number of Non-Zero Addresses has reached an all-time high (ATH) of around 46.1 million. This is a significant milestone for the King of Crypto, which has seen steady growth in adoption over the past few years.
When looking at the growth of Bitcoin adoption across epochs, Glassnode notes a decline in relative growth but an increase in absolute growth as the number of Non-Zero Addresses continues to expand.
#Bitcoin adoption continues to soar as the number of Non-Zero Addresses reaches an ATH of ~46.1M.
When comparing for growth across Epochs, we note a decline in relative growth, but an increase in absolute growth as the number of Non-Zero Addresses continues to expand:
— glassnode (@glassnode) May 6, 2023
During Epoch 1, the growth rate was an astounding 1.3 million percent, with an additional 1 million addresses added. During Epoch 2, growth was still impressive at 784 percent, with an additional 8 million addresses added. During Epoch 3, growth slowed to 233 percent, but a whopping 21 million addresses were added. In Epoch 4, growth slowed even further to 54 percent, but an additional 16 million addresses were still added.
These numbers demonstrate the increasing interest and demand for Bitcoin, with more individuals and institutions embracing cryptocurrency as a legitimate investment and payment option. The rise in the number of Non-Zero Addresses, which indicates the number of unique addresses with a non-zero balance, is a crucial metric for measuring the adoption and usage of Bitcoin.
The increase in adoption can be attributed to several factors, including increased institutional adoption, mainstream media coverage, and the growing acceptance of cryptocurrencies as a viable investment. Additionally, the recent surge in Bitcoin’s price has undoubtedly contributed to the growing interest in the cryptocurrency.
Bitcoin’s decentralized nature and limited supply have made it an attractive investment option, especially for those who are looking for an alternative to traditional investments such as stocks and bonds. With the rise in Bitcoin adoption, it’s likely that we will continue to see more institutions and individuals embrace cryptocurrencies in the years to come.
In conclusion, the surge in Bitcoin adoption is a positive sign for the cryptocurrency industry, and it’s clear that Bitcoin is here to stay. With more individuals and institutions embracing the technology, the future of Bitcoin and other cryptocurrencies looks bright.
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