Daily unique addresses that interact on the Bitcoin network have risen to 1.02 million for the first time in 10 week. The daily active BTC addresses count has also remained above 1 million for the third consecutive day.
The growth of the BTC network is dependent on unique Bitcoin addresses. These numbers show the keen interest of holders of the largest crypto asset in the world. The recent surge in daily active addresses shows that Bitcoin’s price rise is supported by solid fundamentals.
On Thursday, Bitcoin’s daily active addresses reached 1.02m. This is the third consecutive day with 1m+ BTC accounts interacting on the network. This threshold was last seen consistently at 1m for 3 consecutive days in December 1-3 when prices were $56k-57k.” Santiment highlighted via a tweet.
Moreover, BTC exchange activity saw an uptick lately. The digital asset is being moved by whales between exchanges and wallets. Finance Magnates reported earlier this week that 2,011 Bitcoin was moved from Xapo to Bitcoinbase. A separate transaction occurred on February 10, 2022 when a BTC whale transferred 710 coins in a total value of $32 million from Coinbase into a digital pocket .
BTC was at $43,000 Friday. This is an increase of approximately 17% over the past 7 days. Short-term BTC investors have become profitable due to the Bitcoin price spike.
“Short-Term Holders (STHs), for the first time since November, have experienced a profitable day. STH-SOPR broke above 1.0. This means that all coins, older than 155 days, made profits this week. This is after more than two months of losing every day, as STHs who purchased the top realized losses each and every day. They were then able to sell their coins at lower prices. Glassnode, an on-chain analytics platform, stated that a similar STH-SOPR pattern has been observed in two instances starting March 2020.