Let’s check them wallets.Let’s check them wallets.

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. One user can have many wallets.

What matters here is the trend of the chart.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 52,575,685 addresses with a positive balance.

Two weeks ago this metric was at 52,521,810 wallets.

That’s an increase of +53,875 wallets.

With Bitcoin’s recent price movement from $60,000 to ~$67,000,it looks like interest is returning…

Simple takeaway from this data:Simple takeaway from this data:

• Bitcoin adoption continues to grow, and 2024 marks the start of the ‘merchants era’.
• 15 years into its existence and the network is still expanding every single year.