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Saturday, 05/04/2024 9:46:59 AM

Saturday, May 04, 2024 9:46:59 AM

Post# of 59467
From nutshell:

WALLET ADDRESSES EXPLODING 🤯
Today we’ll be taking a look at the number of addresses with a non-zero balance.

It provides a high level overview of the Bitcoin network’s user base/activity.

Keep in mind though, one wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

Increasing number of addresses: increasing adoption levels 📈

Decreasing number of addresses: indicates users are selling their entire balance or consolidating wallets 📉

onchain
Notice how this chart has always been trending upwards?

A clear sign that the Bitcoin Network has expanded every single year.

As of today there are 52,521,810 addresses with a positive balance.

Two weeks ago this metric was at 52,092,112 wallets.

That’s an increase of +429,698 wallets. 😱

The likely reason for this insane growth over the past two weeks is the rise of Bitcoin Ordinals & Runes.

Ordinals are basically NFTs for Bitcoin.

And Runes allow the creation of memecoins and other tokens on Bitcoin.

If you’d like to learn more about Ordinals & Runes, click here.

Simple takeaway from this data:

The use-cases of Bitcoin are still growing, 15 years into its existence.

And the network continues to expand every single year.

Bullish.

Bullish
Bullish

When you're dead, you don't know you're dead. The pain is felt by others. The same thing happens when you're Stupid.

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