Over 20 million addresses now carry more than $1 worth of Bitcoin as unique address numbers pump

  • 09 July 2019, Tuesday, 08:00

Over the past couple of years, Bitcoin, the world’s largest cryptocurrency, has picked up pace in terms of popularity and adoption rates. The surge in the aforementioned metrics has been contributed to by not just the rising number of people getting into crypto, but also mainstream institutions making their debut in the space. It crossed another major milestone earlier this year when the asset completed its 400 millionth transaction since its conception in 2009.

The adoption rate had hit a slump in 2018 however, during the long crypto-winter when transactions per day went down to around 200,000. However, at press time, average number of transactions were around 350,000, which suggested a significant turn in 2019.

According to statistics revealed by bitinfocharts, currently over 20 million addresses have more than $1 worth of BTC. The number might not signify a huge sum, but the number of addresses involved implies the growing participation of people in the Bitcoin network. It was also observed that more than 8 million addresses held Bitcoin worth $100 or more in the network.

When Bitcoin distribution statistics were pulled out, it was found that 7,37,262 addresses had more than 1 BTC in their wallets. The total number of Bitcoins held by these addresses was more than 17 million, equivalent to over $200 billion.

The rapid increase in addresses carrying more than 1 BTC can be connected to another factor which pumped at press time. According to blockchain.com, the number of Unique addresses that carried Bitcoin had also increased in the last 24 hours, with 568,831 recorded addresses. That was an increase of more than 100,000 addresses over the past 24 hours.

At press time, Bitcoin was also pumping significantly, with a growth rate of 8.56 percent over the last 24 hours. The coin was valued at $12,502.

Source: ambcrypto.com