Bitcoin addresses: just over 50% are active
Bitcoin addresses: just over 50% are active

Bitcoin addresses: just over 50% are active

By Vincenzo Cacioppoli - 23 Jun 2022

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After the collapse of the crypto market, which brought BTC below $20,000, the number of active Bitcoin addresses dropped dramatically. 

Use of Bitcoin addresses declining

bitcoin wallet
Significant drop in Bitcoin wallet activity

Following the cryptocurrency market crashes of recent weeks, which have resulted in declines in the range of 60-70% from the highs of November 2021, the number of active Bitcoin addresses has also fallen. Active addresses are considered to be all those that record cryptocurrency transfers in a month.

According to data from the analysis company IntoTheBlock, active Bitcoin addresses in the last month have fallen by 20%. Data also confirmed by Cryptoquant‘s graphical analysis, which shows that in the last week Bitcoin’s active addresses have fallen below the 800,000 mark. During Bitcoin’s peak period in November, there were more than 1.4 million active addresses.

At the root of this drop is surely the collapse of Bitcoin, which fell below the fateful $20,000 threshold. It is clear that many investors faced with such large falls tend to exit the market. But the drop in active addresses could also indicate that some investors in such a difficult moment tend to consolidate and therefore are no longer active in the markets, waiting for more favourable moments.

The latest data

IntoTheBlock shows how the opening of new addresses is also dropping, which in the last week alone has fallen by 17%

The total number of Bitcoin addresses would be around 41 million. 

Of these, about 240,000 hold more than one million, according to the latest figures.

In January 2021, there were 100,000, while in 2020 only 25,000.

Bitcoin millionaires therefore still represent a small slice of the approximately 47 million millionaires in the world today. 

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog., he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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