The use of the Bitcoin network is expanding day by day and this is shown by the transaction numbers and the wallets that send and receive Bitcoin.

According to company data glass Related to the analysis of bitcoin data, the number of active bitcoin wallets on a daily basis has reached more than one million, which represents a new record that we have not seen since January 2018.

For Glassnode’s data and numbers, it relied on measuring the number of unique addresses that were active in the network, whether sending or receiving bitcoin.

Only addresses that were active in successful transactions are counted, according to Glassnode.

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The figure of one million active wallets on a daily basis was last seen in the months following Bitcoin’s historic $20,000 rally in late 2017.

After that, it fell to lower levels, and with it the number of active daily portfolios.

The rally in the headlines has coincided with the bitcoin price rally in the past two weeks.

The chart above shows that the two metrics are highly correlated since 2018, when they were not before the same year 2018.

It can be argued that the measure of the number of active bitcoin wallets indicates a growing overall positive sentiment in the cryptocurrency market, especially as investors seek to hedge against rising inflation by investing in alternative assets such as bitcoin and gold.

Large portfolios fall in favor of small portfolios:

Lucas Nuzzi, co-founder of crypto research firm DAR Crypto, told Twitter that the number of addresses holding $10 or more bitcoin has reached an all-time high of 16.6 million.

The same goes for Ethereum, where the number of Ethereum wallets has registered 6 million wallets containing $10 or more of Ethereum.

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Lucas added:

We note millions more titles than were recorded in the 2017 bubble.

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According to Glassnode data, the number of whale wallets — referring to addresses containing tens of millions of dollars of bitcoin — has been steadily declining in the past few years.

She told Glassnode about it by saying:

The percentage of supply owned by entities holding more than 10 bitcoins grew from 5.1% to 13.8% in 5 years, while the percentage holding 100-100 thousand bitcoins decreased from 62.9% to 49.8%.

It was reported in the media that Bitcoin died 381 times according to to sourceBut the currency is still alive and even records new records daily.

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The volume of Ethereum transactions reaches a record level, coinciding with the rise in the market value of decentralized finance

A new record in the number of bitcoin users has been set since 2017