888,262 Bitcoin addresses now hold at least 1 BTC

888,262 Bitcoin addresses now hold at least 1 BTC
888,262 Bitcoin addresses now hold at least 1 BTC

On Saturday, Bitcoin addresses containing at least one BTC reached the record 888,262. Based on the current price level of Bitcoin, each wallet holds more than $22,000 in cryptocurrency.

Whale Bitcoin addresses have also increased in recent weeks. According to Glassnode, an on-chain analytics platform, 101 addresses on the BTC network now have at least 10,000 coins, the highest level in 4 weeks.

Bitcoin saw a strong recovery in the past week after falling nearly 70% over the past seven months. As a result of BTC’s recent comeback, the total number of BTC addresses in loss reached 17 million on Friday, the lowest level in a month.

In addition to whale accounts, activity on small BTC addresses has also increased in recent days. “The number of BTC addresses with 0.01+ coins just hit an ATH of 10,535,795. The previous ATH of 10,535,325 was observed on July 20, 2022,” Glassnode highlighted in a tweet on July 22, 2022.

Bitcoin and Ethereum

In terms of weekly gains, Bitcoin jumped by more than 10% while Ethereum saw a sharp increase of over 30%.

Farah Mourad, senior market analyst at XTB MENA, comments on the latest price action across the crypto market: “For now, the more likely scenario, the cryptocurrency market’s gains will be supported as long as we continue to see the recovery in the stock market, and a reduction in recession and fears of geopolitical tension . Nevertheless, during an upswing in the cryptocurrency market, it is worth taking an interest in smaller projects. Bitcoin and Ethereum are becoming a safe haven in the crypto world, and smaller projects can bring higher volatility for those looking for bigger waves to ride.”

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On Saturday, the market capitalization of crypto reached the level of 1.05 trillion dollars.

On Saturday, Bitcoin addresses containing at least one BTC reached the record 888,262. Based on the current price level of Bitcoin, each wallet holds more than $22,000 in cryptocurrency.

Whale Bitcoin addresses have also increased in recent weeks. According to Glassnode, an on-chain analytics platform, 101 addresses on the BTC network now have at least 10,000 coins, the highest level in 4 weeks.

Bitcoin saw a strong recovery in the past week after falling nearly 70% over the past seven months. As a result of BTC’s recent comeback, the total number of BTC addresses in loss reached 17 million on Friday, the lowest level in a month.

In addition to whale accounts, activity on small BTC addresses has also increased in recent days. “The number of BTC addresses with 0.01+ coins just hit an ATH of 10,535,795. The previous ATH of 10,535,325 was observed on July 20, 2022,” Glassnode highlighted in a tweet on July 22, 2022.

Bitcoin and Ethereum

In terms of weekly gains, Bitcoin jumped by more than 10% while Ethereum saw a sharp increase of over 30%.

Farah Mourad, senior market analyst at XTB MENA, comments on the latest price action across the crypto market: “For now, the more likely scenario, the cryptocurrency market’s gains will be supported as long as we continue to see the recovery in the stock market, and a reduction in recession and fears of geopolitical tension . Nevertheless, during an upswing in the cryptocurrency market, it is worth taking an interest in smaller projects. Bitcoin and Ethereum are becoming a safe haven in the crypto world, and smaller projects can bring higher volatility for those looking for bigger waves to ride.”

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On Saturday, the market capitalization of crypto reached the level of 1.05 trillion dollars.

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