Bitcoin’s price remains in a sideways trend, trading just above the $25,000 mark, while the broader cryptocurrency market is mired in a sea of red. On the network side of things, however, Bitcoin is witnessing increased user adoption.
According to the latest data by IntoTheBlock, Bitcoin recorded the highest number of new daily addresses since 2017 this weekend, ranking second highest in history.
- A staggering 717,331 new Bitcoin addresses were created on September 9th, representing the highest in five years.
- Crypto analyst Ali Martinez revealed that the only previous instance of such a notable surge occurred on December 14, 2017, when a total of 800,180 new Bitcoin addresses were generated.
- This was during the Bitcoin bull market when the flagship crypto-asset surged close to $20,000 for the first time, and the increase in new addresses during that period was primarily due to retail investors rushing to participate in the market frenzy.
- The latest rise in new Bitcoin addresses could potentially demonstrate a rising interest in the cryptocurrency despite its sluggish price movement.
- Such a development could be seen as a positive sign for the near future since the increasing number of users serves as evidence of sustained confidence and trust in the network.
- Other Bitcoin fundamentals also appear bullish as both hash rate and mining difficulty currently hover near their respective all-time highs.
- Amidst gloom in the broader market, Bitcoin miners are also seeing increased transaction fees.
- Recently, on-chain analytics platform Glassnode noted that the portion of miners’ earnings generated from transaction fees reached a new monthly peak of 2.842%.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://cryptopotato.com/bitcoin-hits-second-highest-daily-new-address-count-since-2017-signaling-resurgence/
- :is
- $UP
- 000
- 1
- 14
- 180
- 2017
- 9th
- a
- above
- address
- addresses
- Adoption
- AI
- all-time highs
- also
- analyst
- analytics
- and
- appear
- ARE
- AS
- background
- BE
- binance
- Binance Futures
- Bitcoin
- Bitcoin bull
- Bitcoin bull market
- Bitcoin Miners
- bitcoin recorded
- border
- both
- broader
- bull
- Bull Market
- Bullish
- by
- Close
- code
- color
- confidence
- content
- could
- created
- cryptocurrency
- cryptocurrency market
- Currently
- daily
- data
- December
- demonstrate
- deposits
- Despite
- Difficulty
- due
- during
- Earnings
- end
- enjoy
- Enter
- Ether (ETH)
- evidence
- Exclusive
- external
- Fees
- First
- first time
- five
- flagship
- For
- Free
- frenzy
- from
- Fundamentals
- future
- Futures
- generated
- Glassnode
- hash
- hash rate
- highest
- Highs
- history
- Hits
- However
- HTTPS
- in
- Increase
- increased
- increasing
- instance
- interest
- internal
- intotheblock
- Investors
- ITS
- jpg
- just
- latest
- Margin
- mark
- Market
- Miners
- Mining
- mining difficulty
- monthly
- movement
- Near
- network
- New
- None
- notable
- number
- occurred
- of
- off
- offer
- on
- On-Chain
- only
- participate
- Peak
- period
- platform
- plato
- Plato Data Intelligence
- PlatoData
- positive
- potentially
- previous
- price
- primarily
- Ranking
- Rate
- reached
- Reading
- receive
- recorded
- Red
- register
- remains
- representing
- respective
- retail
- Retail Investors
- Rise
- rising
- SEA
- Second
- seeing
- seen
- September
- serves
- Share
- side
- sideways
- sign
- since
- sluggish
- solid
- special
- Sponsored
- such
- surge
- Surged
- sustained
- that
- The
- their
- things
- this
- time
- to
- Total
- Trading
- transaction
- Transaction Fees
- Trend
- Trust
- User
- User Adoption
- users
- was
- weekend
- were
- when
- while
- with
- witnessing
- years
- Your
- zephyrnet
More from CryptoPotato
Vietnamese Residents Accused of $1.5 Million Crypto Theft and Kidnapping to Face Justice (Report)
Source Node: 2092156
Time Stamp: May 13, 2023
Over $200 Million Liquidated as Bitcoin Gets Rejected at $32K
Source Node: 1344602
Time Stamp: Jun 7, 2022
Polarys Utility NFT Venture Launches its Exclusive Genesis NFT Collection
Source Node: 1637275
Time Stamp: Aug 24, 2022
GameStop Shakes Hands With FTX US After Announcing Q2 Results
Source Node: 1657395
Time Stamp: Sep 8, 2022
India’s ED Searches the Residences of CoinSwitch Kuber’s CEO and Directors
Source Node: 1640837
Time Stamp: Aug 26, 2022
Fomo Lab Partners with PVLACE of 808 MAFIA and Gunboi to drop ‘For the Culture’ Collection
Source Node: 860573
Time Stamp: May 17, 2021
Mastercard’s CEO Explains When Cryptocurrencies Will Become Mainstream
Source Node: 1746753
Time Stamp: Nov 8, 2022
UK Woman Found Guilty of Laundering Bitcoin Tied to $6 Billion China Fraud
Source Node: 2525000
Time Stamp: Mar 24, 2024
The Company Behind the BAYC Rides the Idea of a Newly Inscribed Existing Project
Source Node: 1989779
Time Stamp: Mar 3, 2023
Chainlink To Drive Mainstream Adoption Of Blockchain Tech, According To Bank Of America
Source Node: 1884705
Time Stamp: Feb 17, 2022
Former FTX Executives Are Teaming Up to Build a New Crypto Exchange: Report
Source Node: 2381004
Time Stamp: Nov 13, 2023