More hodlers than ever. On-chain statistics reveal addresses with a non-zero balance of Bitcoin surpass 40 million to reach an all-time high.
The number of addresses with a non-zero balance was on a steep increase through 2019 and 2020 until the middle of 2021, when growth appeared to have plateaued at about 35 million addresses. However, growth in this metric has spiked since the beginning of 2022, leading to a new ATH of 40,276,163 according to Glassnode.
The sudden spike in BTC supply that was last active three to five years ago coincides with the peak of the last extended bull market at the beginning of 2018.that 817,445 of them have at least one whole BTC, a 10-month high on Feb. 28. Supply-side dynamics in Bitcoin have provided several metrics of note this past month. FSInsight reported on Feb. 9 thatwas illiquid because it had not moved for an extended period of time. The financial research firm’s report described the situation as a “powder keg” that is ready to blow as soon as a moderate amount of BTC is bought on the market.
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