Getting Closer to 50 Million, BTC Non-Zero Addresses on the Rise

The number of Bitcoin addresses holding even the lowest denomination of the cryptocurrency (satoshi) has climbed to an all-time high of almost 48 million

One factor behind that gradual increase in recent times could be the rising interest in BTC Ordinals, with inions recently surpassing the milestone of 20 million.

• The blockchain data and intelligence provider – Glassnode –revealed that BTC addresses with non-zero balances tapped an ATH of 47,857,099 on July 30
• According to the entity’s figures, such wallets plateaued at less than 40 million towards the end of 2022 but headed north at the start of the year. It is worth mentioning that H2 of last year witnessed major collapses in the crypto sector, such as the FTX meltdown, which severely affected investors’ sentiment. BTC Non-Zero Addresses, Source: Glassnode
• In addition, Glassnode disclosed that the number of BTC addresses holding 0.01+ coins (worth approximately $300 at current prices) spiked to an ATH of over 12.2 million
• Wholecoiners (such wallets containing at least one bitcoin) have also peaked. Those addresses exceeded one million (per LookIntoBitcoin data), following a strong rally towards the end of 2022 and a steady increase throughout the ongoing year.
• Another uptrend in the world of crypto is the number of BTC Ordinals inions which currently stand at an ATH of 20,753,049. Dune Analyticsshowedthat July had been a strong month, mimicking the record interest in April and May this year
• Many within the crypto community have argued that Ordinals led to a growing interest in utilizing the Bitcoin blockchain. One cohort that benefits from the NFTs is BTC miners, which enjoyed higher fees during the hype season.

BTC Ordinals Inions, Source: Dune Analytics