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As Bitcoin (BTC) hit its three-year high on November 18, more and more people around the world have begun to move into the world’s largest cryptocurrency, according to data from Glassnode.
Glassnode, a leading provider of cryptocurrency analytics data, registered a notable increase in the number of new Bitcoin addresses on November 18.
According to Glassnode, the number of new registered BTC addresses per hour reached nearly 25,000 addresses for the first time since January 2018, the month following Bitcoin’s all-time high of $ 20,000. The spike in new Bitcoin addresses is still quite far from the highs recorded in January 2018, when the number of new BTC addresses per hour during that month reached nearly 25,000.
The number of new addresses in a 24-hour period reached an all-time high on 21 December 2017, with over 600,000 registered addresses.
The spike in new BTC addresses shows that people around the world are increasingly turning to Bitcoin during a major cryptocurrency bull run. As Cointelegraph reported, Bitcoin has grown nearly 400% this year, going from under $ 4,000 in January 2020 to over $ 18,000 on November 18th.
Rising prices have triggered more fear of getting lost, driving cryptocurrency adoption at the highest pace over the past three years. However, the current level of adoption is still apparently low. According to Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange Binance, the current cryptocurrency adoption rate represents 0.1%, which means that only one in 1,000 people own cryptocurrencies to date.
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