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22.3 million Bitcoin addresses have been energetic throughout January

02/02/2021

On-chain Bitcoin exercise surged throughout January, with greater than 22.3 million addresses sending or receiving BTC final month.

January was a document month for Bitcoin’s worth and community exercise, with greater than 22.3 million distinctive addresses actively sending or receiving BTC over 31 days.

The milestone was noticed by crypto market knowledge aggregator Glassnode, who tweeted that January had seen the very best month-to-month variety of distinctive energetic addresses in Bitcoin’s historical past:

January’s spike in exercise beats out the earlier document of greater than 21 million energetic addresses from December 2017. Since 2017, the variety of distinctive addresses participating with Bitcoin has not fallen beneath 10 million per 30 days.

Regardless of the rise in distinctive energetic wallets, Glassnode additionally famous the variety of “energetic entities” on the Bitcoin community has decreased considerably since spiking into new highs in early January.

Glassnode defines an entity as “a cluster of addresses which are managed by the identical community entity.”

Bitcoin commerce volumes spiked to document ranges final month as Bitcoin surged previous $30,000 to submit all-time highs close to $42,000 on Jan. 8 earlier than posting three weeks of aggressive range-bound consolidation.

BTC/USD since Dec 2020, 4-hr chart: TradingView

On Feb. 2, U.S.-based trade Kraken introduced it had processed extra transactional quantity throughout January 2021 than it had throughout all of 2019, with $56 billion price of belongings altering palms on the platform final month.

The month noticed quite a few cryptocurrency exchanges expertise outages, with Kraken and Coinbase asserting measures supposed to stop future failures within the occasion of surging visitors and quantity.