Bitcoin News

Active Bitcoin addresses increased by 30% in July


The volume of bitcoins held by addresses with between 100 and 10,000 bitcoins in stock has reached 9.23 million units for the first time in history. Recent data show that the number of active Bitcoin addresses also grew by 30% last month.

to the Report Coin Telegraph Following the re-emergence of digital currency markets over the past few weeks, more users have become involved in buying and selling bitcoins.

GlasNow analytics platform data show that the number of active Bitcoin addresses increased significantly in the last week of July, growing by 30% from 250,000 to 325,000 active users.

This is the largest increase in the number of active bitcoin addresses between January and early July, following a 41 percent drop in the number of active bitcoin addresses, according to GlasNow. During this period, the number of active addresses had decreased from 425,000 to 245,000.

Glasnod noted that the current level of activity of the Bitcoin network corresponds to the levels that existed in July 2020 (July 99). At the time, bitcoin was trading at $ 11,300.

In addition to a significant increase in the number of active users of the Bitcoin network, investors in this digital currency collected more bitcoins in late July.

As of August 1, the amount of bitcoins stored at addresses with between 100 and 10,000 bitcoins in stock has reached a record 9.23 million units ($ 364 billion), according to data from the analytics company Santiment. New for this group of investors. The previous record is for April 5; Just a week before Bitcoin broke its all-time high.

Centiment said:

In the last 4 weeks, these addresses have accumulated approximately 170,000 bitcoins. This astonishing speed was last seen in late December 2020. Just before the start of the bullish market in 2021, in the first week of which the price of bitcoin rose from $ 29,000 to $ 40,800.

Active Bitcoin addresses increased by 30% in July
Graph the number of addresses that hold between 100 and 10,000 bitcoins

The latest growth in bitcoin activity comes as the price of the digital currency continues to rise after Elon Musk spoke on July 22nd about SpaceX investing in bitcoin. Musk also said that Tesla plans to resume accepting bitcoins for the sale of its electric vehicles, given the increasing use of renewable energy in mining operations.

Musk is said to have played a role in the fall in the price of bitcoin earlier this year, as Tesla suspended payment in bitcoin in May due to a rapid increase in fossil fuel consumption in mining operations.

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