Cryptocurrency While the partial recovery in the market continues bitcoin set a new record.
According to IntoTheBlock data, the number of addresses containing BTC reached almost 40 million, breaking the record.
To compare, cardano There are only 3.5 million addresses on its network. However, the number of active users who have made any transactions on Cardano for 30 days is at the level of 136,800.
Despite the negative performance in 2022, the number of addresses holding Bitcoin continues to increase.
Since the beginning of the year, 880,000 new addresses have been created. However, the rate of increase in the number of addresses in the BTC network was almost always fixed. However, at the end of 2017, there was a large increase.
Record Holders — The number of addresses holding $BTC continues setting new records.
Bitcoin addresses with a balance reached a record of nearly 40 million.
Even as BTC has remained on a downwards trend in 2022, the network added a total of 888,000 new addresses with a balance. pic.twitter.com/QN4hL13sWH
— IntoTheBlock (@intotheblock) March 14, 2022
What is the Importance of Growing the Bitcoin Network?
Network growth represents one of the most pressing issues for all cryptocurrencies.
Although BTC does not have some functions found in Ethereum, such as smart contracts, although its usage area is limited, it still continues to be the gateway for new individual investors and institutions entering the crypto money world.
BTC’s Market Performance
As mentioned above, Bitcoin had a bad start to 2022. The world’s largest cryptocurrency is still trading at 20% lower than at the start of the year.
However, traditional financial markets also entered the year with one of the worst openings in history. According to its performance on January 1, the S&P500 is watching with a loss of approximately 12.5% today.