In the first quarter of 2021, the Bitcoin network added over 4 million new non-zero addresses, a jump of over 12%.
That figure represents the highest quarterly address increase since the fourth quarter of 2017-the height of the previous rally-when participation increased by 35% and 6 million new non-zero addresses were added.
“Non-zero addresses picked up enormously in Q1….but the addresses that are holding a significant amount of Bitcoin over 1000, that number started to decline, which says that most of the growth in addresses is from people holding relatively small amounts of Bitcoin.
“It shows that 1.) there is growing acceptance of bitcoin as a savings mechanism among small holders, and 2.) the dispersion of the types of holdings…
The report sheds a light on the state of the bitcoin retail investor.