New Bitcoin Addresses Skyrocket by 48%

According to recent reports, there are many more BTC addresses than before, which suggests that the cryptocurrency market is more bustling than usual.

Surge in Bitcoin Addresses

There were about 370,330 new Bitcoin addresses as of Jan. 25. This number increased to 549,843 in just three days, a remarkable 48% rise. Ali Martinez, a crypto expert, talked about this rise and his thoughts on X.

Martinez said that the rise in new BTC addresses shows investors are becoming more interested in the leading cryptocurrency by market value. He said that many buyers are taking advantage of the recent drop in Bitcoin prices, which shows that they have more faith in the market as a whole.

Currently, Bitcoin is trading at $42,092, posing a decrease of 0.64% in the last 24 hours. Although it has been going up and down lately, it has been strong over the past week, with a 4.19% rise in value. In the last 24 hours, it has increased by 6.52%, hitting an impressive $14,934,488,404.

BTCUSD 1-Day Chart

This rise in new addresses and associated hike in trading activity appear at the same time that Bitcoin’s value is changing. Even though prices have recently decreased, buyers seem to be taking advantage of the lower prices, adding to the accumulation trend.

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