According to data published by Glassnode.com which analyzes the Bitcoin market, there are now nearly 978,000 active Bitcoin addresses. A figure close to one million which is one of the indicators allowing to follow the evolution of the adoption of Bitcoin in the world.
Cryptocurrencies are in theair time. To date, according to Glassnode.com, the number of active Bitcoin addresses reached 978,000 worldwide.
Understanding the adoption rate
If more and more people are in demand for a certain good or service and the units circulating in the market for that good or service do not increase in the same propensity, its price will increase. This according to the mechanisms of supply and demand.
The demand can grow depending on two factors: the first is that the market players are stable in number but that the demand for them is more and more important in volume. The second is that the volume of demand remains stable but that there are more and more players in demand on the market.
In the Bitcoin market, the two mechanisms are engaged. In fact, each year more people enter the bitcoin market. Business Insider recently reported an increase of over 800% in adoption of cryptomonnaies in the world. On the other hand, the mechanism for creating new Bitcoins implies that an ever smaller number of BTC will be issued each year.
A very strong increase in the number of Bitcoin wallets
There were only 20 million Bitcoin wallets in 2018. In 2020, this number has more than doubled, exceeding 40 million. In this year 2021, this figure is still experiencing a surge with nearly 80 million wallet addresses.
Two financial analysts: Ruggero Bertelli and Daniele Bernardi have developed a model to visualize the potential number of wallets Bitcoin by 2029. Thus, according to their model, it could experience exponential growth, passing the 100 million mark by 2023 to target one billion Bitcoin wallets by the end of 2029.
How many Bitcoins stored in the wallets on average?
You wonder how your wallet Bitcoin compared to the market. Here are several elements that will help you determine the value of your portfolio. According to data collected by Bloomberg, 70% of wallets contain 0.01 BTC or less. At the same time, only 2% of wallets hold 95% of Bitcoins in circulation. These wallets are thus called the ” whales Or whales in French, which demonstrates the enormous weight of these on the BTC market.
Thus, again according to the study conducted by Bertelli and Bernardi, the average value of a Bitcoin wallet on the dollar market fluctuates between 1,000 and 10,000 dollars depending on the oscillations in the price of BTC. A value that represents according to the current price of the number one cryptocurrency on the market between 0.02 and 0.2 BTC.
It therefore appears interesting to follow the evolution of the number of active wallets over time, a number that has exceeded one million twice in the history of the queen cryptocurrency. The first time before the peak of 2017 when bitcoin hit $ 20,000, then a second in January 2021, when BTC began its ascent to highs of $ 60,000. A figure to follow closely therefore as it is approaching more and more of the million in recent days.
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