Bitcoin is becoming more popular with each passing moment. Indeed, the tone on bitcoin has transformed from one of casual dismissal to unquenchable approval as the bitcoin black hole swallows billions and billions of dollars, as US President Donald Trump might say.
In brief
-
Bitcoin daily address creations have reached the highest number since 2018.
-
The last time this happened, bitcoin was cooling off after all time highs.
-
At this rate of bitcoin expansion, even the ECB might want to own bitcoin soon.
As Bitcoin hit a three-year high on November 18th, more people from all walks of life start purchasing the world’s largest cryptocurrency in swaths, according to data from Glassnode.
Glassnode, a crypto analytics firm, recorded a major spike in the number of new Bitcoin addresses created on the day.
Per the analytics firm, the number of new bitcoin addresses registered per hour hit nearly 25,000 addresses – a figure not seen since January 2018 – the month following bitcoin’s $20,000 all time high.
Edit Image
The spike in new Bitcoin addresses is still quite far from the highs recorded in January 2018, when the number of new BTC addresses per hour during that month hit nearly 35,000. Calculated on a 24-hour period, the number of newly created addresses saw an all-time high on December 21st, 2017, with more than 600,000 addresses made.
This fresh spike in addresses shows that people around the world are increasingly turning to bitcoin during a major bull run. Today, bitcoin has surged 180%, year-on-year as market conditions shift to favour increased adoption across the board.
Interestingly enough, bitcoin has also defied European central bank expectations, who labelled it an ‘evil spawn of the financial crisis‘ during a conference in 2018. If adoption keeps increasing at this pace, it’s likely that even the upper echelons of the European Central Bank, and perhaps even Christine Lagarde herself will eventually own bitcoin.
Subscribe to the semi-weekly newsletter for regular insight into bitcoin and crypto. Go on. It’s free.
Join the telegram channel for updates, charts, ideas and deals.
Did you like the article? Share it!
