40 million addresses contain more than 0 BTC: it’s a new record

40 million addresses contain more than 0 BTC: it’s a new record

Bitcoin’s on-chain data continues to demonstrate the wide adoption of the asset: the number of wallets with a positive balance is now higher than ever

On-chain statistics up to February show positive sentiment as Bitcoin (BTC) addresses with an active balance hit an all-time high.
In addition, digital wallets with a positive BTC balance are increasingly more likely than ever to hold their own assets. According to data from on-chain analysis firm Glassnode, the number of Bitcoins last moved 3-5 years ago is the highest in the last four years: over 2.8 million BTC.
“Number of addresses with a BTC value greater than zero has just reached an ATH of 40,276,163. The previous ATH of 40,275,801 was observed on February 5, 2022. ”
According to Glassnode, the number of addresses with a credit balance was on the rise throughout 2019 and 2020 until mid-2021, when growth appeared to have stabilized at around 35 million addresses. However, this parameter has peaked since the beginning of 2022, leading to a new all-time high of 40,276,163.
A similar increase in active 3-5 year BTC supply was last seen during the bull market peak of early 2018.

Among the addresses with a credit balance, 817,445 of them have at least one full BTC: the highest figure in the last 10 months.
The last month has been very interesting for the parameters relating to the supply on-chain. On February 9, FSInsight reported that 75% of BTC’s outstanding supply was illiquid, as it had not moved for a long period of time. The financial research firm’s report described the situation as a “powder keg” ready to explode as soon as a moderate amount of BTC was purchased on the market.
Recent political turmoil in Canada and Ukraine has amply demonstrated Bitcoin’s ability to circumvent any attempted censorship. Some Canadians have adopted Bitcoin to protect their funds from freezing, while the Ukrainian government is accepting BTC donations due to intensifying tensions in the region.
Bitcoin is currently trading for around $ 43,200, up more than 17% from a week ago.