The adoption of cryptocurrency has been growing tremendously this week, following a dip in crypto prices as a result of Russia’s president Vladimir Putin’s declaration of an invasion in Ukraine.
Crypto investors have taken advantage of the negative impact of the war calls on digital currencies prices to increase their holdings.
Fresh data from cryptocurrency on-chain data platform Glassnode suggests that the number of addresses holding at least 0.1 Bitcoin (BTC) has surged to an all-time high (ATH).
According to Glassnode, the number of cryptocurrency addresses holding from 0.1 BTC recently surged to an ATH of 3,339,395.
“#Bitcoin $BTC Number of Addresses Holding 0.1+ Coins just reached an ATH of 3,339,395,” Glassnode stated in a tweet earlier today.
While the surge in the number of addresses holding at least 0.1 BTC does not reflect the number of people currently holding the world’s largest cryptocurrency, the development suggests that Bitcoin adoption is gaining momentum.
Accumulation Spree Amid Bitcoin Dip
Recall that Bitcoin was trading around $39,000 in the early hours of yesterday before the Russian president declared a full-scale invasion on Ukraine in a bid to achieve its demands, which includes stopping Ukraine from entering into an alliance with the United States.
Moments after the announcement was made, Bitcoin alongside other cryptocurrencies in the top 10 crypto ranking shredded at least 10% of their value in what was still considered a bloody Thursday.
Many traders saw Bitcoin’s dip as an opportunity to bolster their position in the asset class as they embarked on an accumulation spree.
The accumulation spree by global crypto traders further drove the price of Bitcoin to nearly $39,000 earlier today.
As reported, Bitcoin was not the only cryptocurrency that recorded significant surge in the last 24 hours, other cryptos like Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cardano (ADA), also spiked massively.
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