Daily Active Bitcoin Addresses Hit 1 Million

For the first time in 10 weeks, daily unique addresses interacting on the Bitcoin network have surged above 1.02 million. Moreover, the daily active BTC address count has stayed above the level of 1 million for the third day in a row.

Unique Bitcoin addresses play an important role in the growth of the BTC network. The numbers highlight the interest of the holders of the world’s biggest crypto asset. The latest surge in the daily active addresses indicates that Bitcoin’s price jump is backed by strong fundamentals.

“Bitcoin’s daily active addresses hit 1.02m on Thursday, the third day in a row with 1m+ BTC addresses interacting on the network. The last time this threshold was consistently above 1m for 3 straight days was December 1-3, when prices were $56k-$57k,” Santiment highlighted in a Tweet.

Moreover, BTC exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term activity saw an uptick lately. Whales are moving the digital asset between wallets and exchanges. Earlier this week, Finance Magnates highlighted the movement of 2,011 Bitcoin from Xapo to Coinbase. In a separate transaction on 10 February 2022, a BTC whale moved 710 coins worth $32 million from Coinbase to a digital wallet Digital Wallet A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi A digital wallet is a popular mechanism referring to an electronic device, online service, or software program that allows one party to make electronic transactions with another party.This involves the bartering or exchange of digital currency, including cryptocurrency for goods and services. Money can be deposited in the digital wallet prior to any transaction, which also includes an individual's bank account that is linked to the digital wallet. A digital wallet can include more than just digi Read this Term.

Short-Term Holders

BTC stayed above $43,000 on Friday, which has gone up approximately 17% in the last 7 days. Due to the spike in the price of Bitcoin, short-term BTC holders turned profitable.

“For the first time since late November, Short-Term holders (STHs) have seen a profitable day, with STH-SOPR breaking above 1.0. This indicates that coins that were spent, and younger than 155-days, realized profits on aggregate this week. This follows more than two months realizing losses every day as STHs who bought the top, were shaken out of their coins at lower prices. A similar STH-SOPR pattern can be seen in two instances since March 2020,” the on-chain analytics platform, Glassnode mentioned.