Bitcoin (BTC) Meets 46.1M Non-Zero Addresses, Soaring Adoption

The most prominent cryptocurrency, Bitcoin (BTC) gathered attention among the crypto community by reaching a new all-time high (ATH). As per the reports of Glassnode, a crypto analytics provider, it is noted that the overall non-zero addresses turn to an approximation of 46.1 million.

#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:

🔴Epoch… pic.twitter.com/iXFw52Y5eD

— glassnode (@glassnode) May 6, 2023

While comparing their price chart over the last week, BTC is relying on between the highs and lows of $27.1K to $29.9K. Whereas, the current market price ranges to $28,762.12 over a trading volume of $16,305,417,279 as per the analysis of CoinMarketCap.

Growth Compared For Four Epochs

Following the Glassnode spotlight on BTC, there are four different Epochs compared for growth. These Epochs have remarked a slight decline in relative growth. On the other hand, an increase in the absolute growth, for the increasing number of non-zero addresses.

Firstly, Epoch 1 addresses on the BTC network are valued at one million with 1.3M% growth. Meanwhile, Epoch 2 calculated greater than 784M% growth over 8 million addresses. Furthermore, Epoch 3 accounted for 21 million addresses a growth of 233%. And, Epoch 4 recorded 16M addresses for a 54% growth to the BTC network.

Every Epoch resembles a bit of increase and decrease in the growth rates on the network. Over the last 3 years, nearly 200K non-zero addresses have got added with 1 or more BTC balances ranging to a current value of 981K addresses now.

Furthermore, Bitcoin’s growth reached 72.64% Year-to-Date (YTD), although inflations fueled higher rate hikes. The 18th-week on-chain of BTC predicted that the short-term holders hold a greater dominance of around 95% of total inflows than the long-term holders.

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