Bitcoin network continues to expand rapidly

by in Cryptocurrency News


The number of addresses with non-zero balance continues to grow in the Bitcoin network. That is evidenced by the latest data from the Glassnode service.

Related: Willy Woo predicts Bitcoin rally to resume in 2021

In the middle of this week, it became known that 3.141 million wallets own 0.1 BTC or more. If you look at the graph provided by analysts, you will notice that the number of Internet users has been steadily increasing since 2010.

The Glassnode team also draws attention to the continued increase in bitcoin miner activity. The network hashrate recently updated its all-time high, reaching 170 exhashes per second (EH/s).

Currently, the largest digital currency is trading at $ 10,900. Volatility in the crypto market remains weak, but some analysts expect it to escalate in the coming days. At the same time, the dominance of the trend towards an increase in the number of wallets with a non-zero BTC balance is unlikely to end.

Analyst Willy Woo recently announced an improvement in bitcoin fundamentals. According to this expert, capital inflows to BTC will increase in the fourth quarter of 2020. Explosive growth in the value of the coin is expected next year.