Bitcoin small holder addresses hit all-time high, hint at widening user base

2023-11-27 05:10

Quick Take

The Bitcoin (BTC) ecosystem is observing an intriguing trend, with an explosive rise in the number of addresses falling under the Plankton Cohort (addresses holding less than 0.01 BTC). This cohort serves as a crucial barometer to assess macro trends of growth or decline throughout market cycles.

As per recent data, the address count within this cohort is at an all-time high of 37.5 million. This alone, however, does not convey the full picture. An essential supplementing metric is the 30-day change in address count within the cohort. Notably, this has surged by 1.6 million, marking one of the highest increases on record.

Bitcoin Plankton Address Count: (Source: Glassnode)

Meanwhile, the total number of unique addresses holding a non-zero BTC balance has surpassed the 50 million mark.

Rewinding to six years ago, in November 2017, the number of addresses with a non-zero balance was only half of the current count. Thus, over the span of these six years, we have observed a doubling in the number of such addresses.

Number of Bitcoin addresses with a non-zero balance: (Source: Glassnode)

The post Bitcoin small holder addresses hit all-time high, hint at widening user base appeared first on CryptoSlate.

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