Santiment analysts record the rapid growth of the BTC network since the beginning of the year

The number of bitcoin addresses is increasing dramatically, despite the volatility of the crypto market

16.03.2023 - 10:20

195

3 min

What’s new? Experts at analytics company Santiment reported that despite the volatility of the cryptocurrency market, the Bitcoin network is showing a high growth rate in 2023. Thus, since mid-January, the total number of bitcoin addresses has increased by 1,71 million (3,95%), reaching the mark of 45,14 million.

📈 #Bitcoin's" class="redactor-linkify-object">https://twitter.com/hashtag/Bitcoin?src=hash&r... rate of network growth is prospering right now, even with the unpredictable volatility in #crypto markets right now. In the past 2 months, the total amount of $BTC addresses has grown by 1.71M, a 3.95% increase in a relatively short period.👍 https://t.co/Q0dGZy67Lx pic.twitter.com/cHkCHR5z9j — Santiment (@santimentfeed) March" class="redactor-linkify-object">https://twitter.com/santimentfeed/status/163609253... 15, 2023

What is going on with BTC? On March 14, the bitcoin rate rose above $26 000 for the first time since the beginning of the year but corrected to $24 425 as of March 16, 09:25 UTC, according to Binance. Analyst Peter Brandt noted that the correction is the result of the “megaphone” pattern, in the framework of which further growth of the rate is possible. And Capriole CEO Charles Edwards said that BTC may rise to $100 000 as a result of the reversal.

Number of bitcoin transactions reaches the highest level in 2 years

This may be due to the implementation of a protocol that allows the creation of NFTs in the Bitcoin network

Read further

In early March, Santiment cited an increase in the number of transactions from large investors in FET, MKR, and ADA tokens, and found a transaction of 11,6 million LINK tokens, which was the largest spike on the Chainlink network in the past 90 days.

Author: