TL:DR Breakdown:
- Active Bitcoin addresses totaled nearly 19.6 million in the past month alone, according to Glassnode.
- BTC addresses usually get active in sending and receiving funds when the crypto makes huge runs in price.
The number of active Bitcoin addresses has been growing accordingly, following the leading cryptocurrency’s rising price by market capitalization. Bitcoin saw the most bullish monthly close in November. The cryptocurrency was up by more than 50 percent as the price rallied towards the all-time high (ATH). Being the most profitable month since 2020, more addresses became active in November – sending or receiving Bitcoin during the price upticks.
Nearly 19.6 million active Bitcoin addresses last month
According to the information provided by Glaassnode, an on-chain analytics platform, the number of active Bitcoin addresses in November neared 19.6 million. This is the third-highest record since the history of Bitcoin. It’s slightly below the second-highest level, which was observed in January 2018, at 19.7 million. The highest point remained the 21.64 million active addresses in December 2017.
As seen with the previous records, active Bitcoin addresses tend to increase when the cryptocurrency enters the bull market. The previous highs were observed during the period BTC surged to the late price ATH. Likewise, Bitcoin slightly surpassed the previous all-time high a few days ago on many exchanges. On Tuesday, Cryptopolitan reported that the cryptocurrency made a new price high on the US exchange, Coinbase, at over $19,900.
Bitcoin in volatility
Having been on the run for over a month, Bitcoin seems to be swimming in volatility as many people are panic-selling. The volatility was well predicted by Bitcoin analyst, PlanB, who also added that Bitcoin is likely to come out with more price highs. At the time of writing, Bitcoin is trading at the price of $18,547, according to Coinmarketcap. Its market capitalization dropped to about $344 billion.
