Glassnode: The number of addresses in Bitcoin for the first time exceeded 1 billion

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According to the analytical agency Glassnode, volatility and problems of the crypto market have not stopped the development of Bitcoin.

Glassnode specialists reported that for the first time inDuring the existence of the Bitcoin blockchain, the number of created addresses in the network on July 11 exceeded the one billion mark, reaching 1,000,002 559 addresses by the end of the day. This suggests that Bitcoin, despite the fall in the cryptocurrency market, continues to be popular.

The recent collapse of cryptocurrencies appears to have weakenedInvestor interest in Bitcoin as a high-risk asset, analysts believe. Against the backdrop of accelerating inflation, many traditional assets lost the financial support of traders.

At the same time, the decreased value of Bitcoininspired investors to invest in BTC and create new addresses on the blockchain. Although the number of addresses created continues to grow, this metric does not directly relate to the number of users owning the asset. In some cases, investors have multiple addresses to send and receive transactions.

The growing number of addresses may be due to investors' need to process each Bitcoin transaction to a new address to maintain privacy.

For comparison, according to the analytical company Santiment, the number of unique addresses in the Ripple blockchain in July for the first time since the beginning of 2020 exceeded 200,000.