Bitcoin addresses with a balance greater than zero reach a new record high
- The number of Bitcoin portfolios containing at least 1 satoshi has reached a record level.
- This follows an increasingly bullish year for Bitcoin as institutional investors became more involved.
- Portfolios containing more than 1 BTC and Ethereum portfolios with non-zero balances also reached an all-time high.
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As Bitcoin continues to try to surpass its record price, we see another Crypto Engine positive measure in its ecosystem: the number of portfolios with more than zero BTC balances.
As of December 12, the number of portfolios with a non-zero BTC balance reached a new historical record (ATH) of 32,925,521. This beats the previous record of 32,925,198 reached the day before. This data was collected and plotted by Glassnode, which monitors measurements and on-chain exchange flows.
A positive sign for the crypto space
This news of a record number of non-zero Bitcoin accounts is a very positive sign in space. It shows that more and more users are creating portfolios and actually depositing Bitcoins into them. It also indicates that users are interacting with the network.
Glassnode also pointed out that the number of Bitcoin addresses holding at least 1 BTC also reached a new historical record with 825,988 addresses, just one day before the aforementioned ATH on 11 December.
In addition to these statistics, according to Chainalysis‘ chief economist, Philip Gradwell, portfolios of more than 1,000 BTCs (with a current value of approximately $19 million) have also increased by 17% in 2020, indicating increased intention on the part of individual and institutional investors.
What about ETH?
These historic peaks are not only observed in the Bitcoin ecosystem, but also at Ethereum. Glassnode reports that the number of Ethereum addresses holding a non-zero amount has exceeded its historical record, totalling 50,476,989 portfolios. As with the Bitcoin portfolios, the previous record of Ethereum addresses with a non-zero balance was reached on 12 December. This indicates that new records are expected for the two cryptomoney portfolios.
When looking at the graphs for the non-zero addresses in the Bitcoin and Ethereum portfolios, the graph shows exponential growth. However, the graph detailing addresses holding more than 1 BTC appears to follow a linear growth pattern.
Rising crypto prices and interest in them
Last year, we have seen a gradual growth in the entire cryptomoney sector. Major digital currencies such as bitcoin and ether have doubled, tripled or even more. This growth is due to a wide variety of factors. Global economic instability has a large influence. More narrowly, there is interest in Bitcoin as a reserve asset/inflation hedge, the launch of Ethereum 2.0, and much more.