Active addresses now exceeds 940,000

Amid expectations for the proximity of the third halving, and the price of BTC exceeding USD 10,000 again, the number of active Bitcoin addresses has returned to levels not seen since the beginning of 2018. At that time, the Bitcoin's price was coming out of its biggest bull run, when it approached 20,000$.

During the last week, the number of active addresses exceeded 940,000, returning to levels not seen since the end of January of that year, according to a report by the analysis firm Glassnode published this Thursday, May 7. The company itself explains that this metric takes as reference those active Bitcoin addresses within a week, either as the sender or receiver of a transaction on the network.

Previously, there was a close peak the last week of June 2019. However, in that rise, active addresses did not reach 940,000. According to Glassnode records, the all-time high for active addresses in a week was precisely at the height of the 2017 bull run, with the bitcoin price above 19,000$.

Thus, the third week of December of that year, there were more than 1,190,000 addresses that sent or received a transaction. In contrast, the lowest point of active addresses since October 2016 was recorded in April 2018, the last time the number has been below 530,000.

Glassnode highlighted, in this same report, that the number of new addresses during this last week also reached the levels seen in January 2018. According to data from this firm, during the week there were more than 450,000 new addresses. That is, addresses that first appeared in a transaction on the Bitcoin network.

The more addresses are active on the network, it could be thought that there are a greater number of Bitcoin users. But this is not necessarily so. On the one hand, money exchange offices use multiple addresses to manage their funds, while private users usually have more than one address, for security reasons and to keep their privacy safe.