Non-zero Bitcoin (BTC) Holders Hit All-time High Surpasses 40 Million Count
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- 817,445 non-zero balance addresses had at least one BTC.
- The supply-side dynamics of Bitcoin have offered numerous noteworthy measures.
As of February, the number of Bitcoin addresses having a non-zero balance hit an all-time high on the Bitcoin network. Additionally, those wallets with a positive BTC balance are expanding their coin hoardings. A four-year peak of little over 2.8 million coins was hit in the circulating supply of BTC three to five years ago, according to data from on-chain analytics company Glassnode.
From 2019 to 2021, the number of non-zero balance addresses multiplied, peaking at roughly 35 million addresses in the middle of 2021. Since the beginning of 2022, Glassnode has reported a new record high of 40,276,163 for this statistic.
Poised to Explode
It corresponds with the apex of the previous lengthy bull market at the beginning of 2018 that saw a sharp surge in BTC supply. On February 28, Glassnode revealed that 817,445 non-zero balance addresses had at least one BTC, a 10-month high.
In the last month, the supply-side dynamics of Bitcoin have offered numerous noteworthy measures. Seventy-five percent of the BTC supply was described as “illiquid” since it has not been traded for an extended time by FSInsight on February 9. As soon as the market sees a modest number of BTC, the financial research firm’s study characterized the scenario as a “powder keg” poised to explode soon.
More light was cast on Bitcoin’s censor-proof nature during February’s political instability in Canada and Ukraine. The Ukrainian government is now taking BTC contributions as tensions in the area rise, and several Canadians have switched to using Bitcoin to avoid having their cash frozen.
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