The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Active Addresses Shatters 1,000,000 As BTC Approaches Crucial Monthly Close

by Daily Hodl Staff
September 30, 2020
in Bitcoin, Trading

Bitcoin’s fundamentals continue to show signs of strength. According to the on-chain data provider Coin Metrics, the number of BTC active addresses has soared to a level not seen in over two years.

Hans Hauge, the head of quant strategy at crypto asset management firm Ikigai Fund, published a Coin Metrics chart highlighting the sustained growth of the number of BTC active addresses over the years.

“Bitcoin doesn’t have to be complicated. The supply is capped and the number of users has been growing exponentially this whole time.”

Source: Hans Hauge/Twitter

Analysts use the active addresses metric to measure the rate of a crypto asset’s adoption.

The metric refers to the number of unique addresses that are active on the network as a sender or receiver of the crypto token. On September 25th, the number of BTC active addresses skyrocketed to 1.14 million – the highest level since the 2017 bull market.

Source: Coin Metrics

The growth in user activity comes as Bitcoin continues to trade around a key level for the bulls.

The number one cryptocurrency is on the verge of closing the month above $10,500, which crypto strategist and trader Bitcoin Jack says indicates that BTC is converting previous resistance into support.

Thoughts if the monthly closes like this? pic.twitter.com/grea0j4N5d

— //Bitcoin ?ack ? (@BTC_JackSparrow) September 29, 2020

While BTC looks bullish on the long-term timeframe, some analysts believe that Bitcoin is due for one more leg down in the short term.

In a new video, trader Michaël van de Poppe tells his crew of 78,000 that the number one cryptocurrency will likely breach support of $10,000 in the near term. 

“Given that we’ve been making lower highs and lower lows, it’s very likely that after this structure, we’re going to break this low and then we get towards $9,600 later on to hopefully confirm the end of this correction on the markets.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,008.16
$23,008.16
1.34%
Ethereum
$1,633.38
$1,633.38
2.02%
Cardano
$0.397269
$0.397269
0.02%
XRP
$0.402578
$0.402578
1.92%
Dogecoin
$0.092618
$0.092618
2.54%

Spotlight

  • ‘New Era’ As Cardano (ADA) Based Stablecoin Djed Goes Live on Mainnet
    January 31, 2023
  • Bitcoin Could Scale Into Staggering $30,340,000,000,000 Market, According to ARK Invest’s New Crypto Forecast
    February 3, 2023
  • Top Analyst Says One Ethereum-Based Altcoin Is Ready To Break Out, Updates Outlook on Three Additional Altcoins
    January 30, 2023
  • Low-Cap Crypto Asset Surges 219% After Contentious SEC Decision – Could XRP Do the Same?
    February 1, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl