Bitcoin has recently experienced a sudden uptick in new non-zero addresses, its biggest one since April’s rally.
The leading cryptocurrency is attracting more users after its price gained more than 30 percent this January.
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New price highs, new addresses
According to Glassnode data, the number of new addresses created over a seven-day period surpassed 400,000. This coincided with the BTC price creeping closer to the $10,000 level.
The chart below shows that there is a clear correlation between the number of new addresses and Bitcoin’s price action. The rapid growth of wallets came before Bitcoin’s $13,888 peak in June, which ignited retail interest.
When the BTC price took a huge hit in December, it also took a toll on the creation of new addresses.
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500 mln confirmed transactions
Speaking of Bitcoin’s fundamentals, the cryptocurrency that started it all surpassed 500 mln of confirmed transactions on Feb. 5.
The epic milestone came less than a month after the cryptocurrency community celebrated 11 years since the very first Bitcoin transaction between Satoshi Nakamoto and the late cypherpunk Hal Finney.
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