The number of addresses with an account balance of at least 1 Bitcoin reached its historic maximum in March. This emerges from data published by the blockchain ecosystem monitoring platform Glassnode. The ascending line of the data provider diagram shows that almost 800,000 accounts currently contain a BTC or more by March 12 when the milestone was reached and another 13,258 by April 9.
Glassnode data also shows that at the end of 2017, when bitcoin price hit an all-time high of around $ 20,000, there were around 720,000 accounts with a BTC balance at the time. When the price of the pioneering cryptocurrency fell in 2018, at least 690,000 addresses were registered with 1 BTC.
At the beginning of 2017, there were around 550,000 wallets with at least one Bitcoin. Data shows that users continue to accumulate cryptocurrencyDespite market volatility and the March 12 price drop, when Bitcoin price dropped from $ 10,000 a unit to $ 4,185 before recovering above $ 6,700 again as of the writing of this note.
It is worth noting that a Bitcoin address does not necessarily represent a user. As a matter of fact A user can create multiple addresses and carry out various transactions with the idea of maintaining their anonymity.
Click here for a better view of the interactive glass node diagram.
From January to March 2020, another category of addresses grew noticeably, addresses with at least 0.01 BTC. This is another reference to understand the growing worldwide interest in Bitcoin in less than a month. cut in half.
Glassnode data continues to show that users have withdrawn money from cryptocurrency exchange offices, which may be the case a sign that they want to keep them in their accounts until the expected halving in May. However, the behavior of network users could also indicate that there is a strong tendency to flee into the cryptocurrency in times of economic and political instability. Indicators have recently been found to show that the Bitcoin market is clearing itself of panic.
On the other hand, CryptoNews recently reported that Glassnode data also shows that big Bitcoin investors, known as whales in ecosystem jargon, are accumulating more and more BTC when the first cryptocurrency planned for May halves. .
According to an analysis by Glassnode, there are currently almost 1850 companies or operators with at least 1000 bitcoins or more, which confirms that the whales are in the accumulation phase. The number has not reached this level since late 2017 when Bitcoin was quoted at $ 20,000. However, the behavior of large investors at that time was a behavior of capitulation, ie selling or taking profits.