TL;DR Breakdown:
- Non-zero addresses for Bitcoin and Ether reached a new high on Monday.
- The increasing balance of these addresses signals more interest for the cryptocurrencies.
The price of cryptocurrencies in the market began improving since this week, especially with Ether (ETH) and Bitcoin (BTC) which is back trading at the $19,000 level. Amid the price improvement, Glassnode disclosed an increased activity in Bitcoin and Ethereum, as the number of non-zero addresses reached a new all-time high yesterday. One can simply say that investors are returning to holding the coins in the hope for another market rally.
Bitcoin, Ether non-zero addresses at ATH
According to the information shared by the on-chain analytics platform, the number of Bitcoin non-zero addresses reached another high of 32,925,687 on Monday. During the day, the largest cryptocurrency was seen trading slightly above the $19,000 level. At the time of writing, the crypto trades at $19,197 on Coinmarketcap, with a 24 hours price change of 0.02 percent, and a market capitalization of $356 billion.
The second-largest digital currency, Ether, saw an increase in addresses with balance. As Glassnode reported, the non-zero addresses on the Ethereum network reached another all-time high of 50,656,493, within the same period as Bitcoin. Currently, the cryptocurrency trades at the price of $583, with a market capitalization of over $66 billion. Conclusively, investors are still interested in the two leading digital currencies.
Interest in Bitcoin, Ether
While emphasizing the growing rate of adoption for Bitcoin, one of a prominent industry analyst, Willy Woo, recently commented:
“The adoption curve of Bitcoin is faster than any other global infrastructure rollout before it. It’s growing faster than the rollout of the Internet, mobile phones, and easily faster than “virtual banking” players like PayPal.”
For Ethereum, there have been lots of notable growth in the network users since this year, from the DeFi and staking service. Recent information from Santiment indicated that about 177.5k new Ethereum addresses were created last Saturday. This accounted for a 35-month high in the number of addresses created in a single day.
