Number of Active Bitcoin Addresses Surges to 1.18 Million
The number of active addresses on the Bitcoin blockchain has hit 1.18 million, reaching highs closer to those seen in December 2017, when the flagship cryptocurrency hit its all-time high near $20,000.
Hans Hauge, head of quant strategy at Ikigai asset management, first pointed out the surge in active BTC addresses on social media. The spike led to the seventh-highest number of active addresses in Bitcoin’s history in a single day, falling behind the all-time high of 1.29 million active addresses.
The number of sending addresses, however, did hit an all-time high of 836,000 addresses. This is possible as one BTC address can send funds to multiple addresses. The increased activity saw the average BTC transaction fee hit $6.7, down significantly from the $55 seen in late 2017.
The increase in the number of active bitcoin addresses comes at a time in which the price of bitcoin has remained above the $15,000 mark, putting most investors in the green. Data shows 98% of bitcoin addresses were in a state of profit at around $14,000.
