The data on the chain shows that the total number of BTC addresses has continued to grow recently, which is a sign that selection is likely to be accelerated.
The total BTC address has increased by 3.95% in the past two months.
According to the chain analysis of corporate Santiment information, BTC now has a total of 45.14 million addresses. The indicator here is "BTC Supply Distributed", which tells us what wallet group in the market now contains several addresses.
The wallet group here refers to the group distinguished according to the total number of coins they hold at this stage. For example, a 1-10 coin group contains all addresses that contain 1 to 10 BTC balances at this stage.
If the BTC supply distribution indicator applies to this group, it will take into account the total number of wallets in the market that meet this requirement.
Because in the current situation, the number of interested is the total number of addresses on the Internet, and regardless of the total number of wallets, Santiment only needs to combine all the existing address sequences to show that their matches are widely available.
The following chart shows the performance of this indicator over the past year:
As the chart above shows, about a year ago, when the stock market bear market approached, the total number of addresses between zero and endless BTC (the category that covers all the sizes of small wallets in the market) has been rising dramatically.
This shows that the rate of establishment of new addresses was still rapid at that time. Every time you see this trend, it means that more new customers are likely to add to the Internet, so the use of digital money has warmed up.
However, when the collapse caused by the bankruptcy of King Luna and the collapse of 3AC shocked the sales market, and the bullish convergence took place, the improvement slowed down, and the index even encountered a large-scale sideways consolidation market.
Generally speaking, investors may find the integrated sales market particularly boring, so during the bear market, when there is this trend in prices, marketing activities will slow down. Naturally, under such circumstances, it is difficult for the Internet to attract new customers, so the improvement of the total address is stagnant.
In turn, the ups and downs will satisfy the holders, thus bringing some concern to blockchain technology, which will eventually attract a new user of this kind of digital currency. During the collapse of FTX, an example of this piece was clearly visible in the data chart, and during the slow phase of improvement, the address suddenly jumped.
With the new rise in Bitcoin over the past few months, the value of the indicator has risen rapidly again, which means that most new customers are now deeply attracted to the property.
In this period of time alone, the total number of addresses increased by nearly 4%, a significant increase in such a short period of time. For any coin, more choice is generally a sign of initiative, because it brings the foundation of sustainable development for long-term improvement.
At the time of writing, Bitcoin traded at about $24900, up 15 per cent last week.
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