Data shows that active Bitcoin addresses soared by 30% at the end of July

With the renewed bullish trend in the cryptocurrency market in the past few weeks, more and more users are beginning to trade Bitcoin (Bitcoin), calculated by market value, is the world’s largest cryptocurrency.

Data from the blockchain analysis platform Glassnode shows that in the past week of July, the number of active Bitcoin addresses has increased significantly, and the number of active BTC entities has increased from 250,000 active users to 325,000, an increase of 30%.

According to Glassnode’s 7-day exponential moving average statistics of active Bitcoin entities, this is the largest increase recorded after the number of active Bitcoin entities fell 41% from 425,000 in January to less than 245,000 addresses in early July. Glassnode pointed out that the current level of Bitcoin activity corresponds to the level maintained in July 2020, when the transaction price of Bitcoin was approximately $11,300.

In addition to the significant increase in active Bitcoin users, BTC investors have been Accumulate more cryptocurrencies Late July.

According to data from the analysis company Santiment, the number of bitcoins held on addresses storing 100 to 10,000 BTC beat As of August 1, Bitcoin was 9.23 million ($364 billion), which is a record high for this group of investors.The previous record high occurred on April 5th, just a week ago Bitcoin price breaks through an all-time high of $64,000.

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“In the past four weeks, these addresses have accumulated about 170,000 BTC. This amazing rate last appeared in late December 2020, just before the massive bull market in 2021, the price went from 2.9 in the first week of the year. 10,000 U.S. dollars jumped to 40,800 U.S. dollars,” Santiment pointed out.

Hold addresses from 100 to 10,000 BTC. Source: Santiment

The latest increase in Bitcoin activity comes at a time when BTC has grown steadily after Tesla CEO Elon Musk reveals that his company SpaceX owns Bitcoin July 22.The CEO also stated that Tesla plans to resume encrypted payments for vehicle purchases, citing Increase the percentage of renewable energy Used for Bitcoin mining. As we all know, Musk may have contributed to the price collapse of Bitcoin earlier this year. May cut Tesla’s BTC payments The use of fossil fuels due to Bitcoin mining is increasing rapidly.