The number of Bitcoin wallets created has surpassed 1 billion.
Glassnode Alerts, in a tweet on Tuesday, reveals that Bitcoin has reached a significant milestone as the number of created wallets has now surpassed 1 billion.
“Bitcoin BTC Total Number of Addresses Ever Created just went above 1,000,000,000. Current value: 1,000,002,559,” tweeted the on-chain analytics firm.
? #Bitcoin $BTC Total Number of Addresses Ever Created just went above 1,000,000,000.
Current value: 1,000,002,559
View metric:https://t.co/L293QrC6rC pic.twitter.com/mCxcmzkJb2
— glassnode alerts (@glassnodealerts) July 12, 2022
The latest milestone is important as it shows that the leading digital asset is still in demand despite the recent market downturn. However, it is necessary to clarify that the number of addresses surpassing 1 billion does not mean that the number of unique holders has exceeded the 1 billion mark, as some individuals hold multiple wallets. In addition, others sometimes create new ones after losing access to a previous one if they lose their keys.
“wait, wait – I thought Bitcoin was dead,” tweeted one user.
The Crypto Basic reported Monday that Bitcoin commentary on social media had reached record levels of optimism despite the current macroeconomic environment. Additionally, Santiment later revealed on Monday that Bitcoin-related discussions were on the rise compared to other crypto assets, a trend the analytics firm points out has historically served as a bullish indicator.
“The ratio of discussions related to Bitcoin vs. all crypto topics has risen swiftly on social media. BTC’s social dominance is now at its highest point since June, 2021. Historically, focus coming back to BTC is a good sign for crypto bulls,” Santiment tweeted.
? The ratio of discussions related to #Bitcoin vs. all #crypto topics has risen swiftly on social media. $BTC's social dominance is now at its highest point since June, 2021. Historically, focus coming back to $BTC is a good sign for #crypto #bulls. https://t.co/dEMZ5M4tS0 pic.twitter.com/BESWaZbEUL
— Santiment (@santimentfeed) July 11, 2022
In addition, exchanges have recorded high outflows as believers in the digital asset move to accumulate. They believe now to be an excellent time to pick up the asset. Despite these positive fundamentals, it is worth noting that the price of the asset continues to range as worrying macroeconomic conditions persist.
The crypto asset currently trades below the $20k price point at about $19,719. It has slipped 3.53% in the last 24 hours. It is worth noting that the release of US inflation data on Wednesday will likely lead to market volatility.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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