Non-Zero Bitcoin Addresses Hits an All-Time High

Bitcoin's On-chain Metrics Still Strong

According to data from crypto analytics firm Glassnode, addresses with a non-zero balance of Bitcoin have reached a new all-time high at 40,276,163.

Glassnode pointed out that addresses with positive Bitcoin balances had surged between 2019 and 2020. However, the 2021 bull market halted this trend. By mid-2021, such addresses stagnated at around 35 million. Since then, it resumed the uptrend towards the beginning of this year to reach an all-time high of 40,276,163 addresses.

The analytics company also informed that out of the non-zero BTC addresses, 817,445 hold more than on Bitcoin which is at a ten-month high.

Bitcoin’s Token Circulation Hits a 9-month High

The news of Russia-Ukraine tensions has prompted many Bitcoin (BTC) investors to move their holdings, with whales making massive transfers, according to data from another blockchain analytics resource Santiment.

Santiment noted that the largest amount of BTC transactions was worth over $100,000 and $1,000,000 in about a month as BTC dropped below $35,000. In addition, Bitcoin’s circulation hit a 9-month high, “revealing just how polarized traders have become with the war,” according to the company.

BTC is currently trading at $43261, at the time of writing, up 12.7% from the past 24 hours, according to CoinGecko.