When Bitcoin (BTC) hit a three-year peak on November 18, more people around the world began switching to the world’s largest cryptocurrency, according to Glassnode.
Glassnode, a major provider of cryptocurrency analytics data, reported a significant increase in the number of new Bitcoin addresses on November 18.
According to Glassnode, the number of new BTC addresses registered per hour reached nearly 25,000 for the first time since January 2018 – a month after Bitcoin reached $ 20,000 full-time. The increase in the number of new Bitcoin addresses is still quite far from the highs recorded in January 2018, when the number of new Bitcoin addresses per hour reached nearly 25,000 this month.
On December 21, 2017, the number of new addresses in 24 hours was the maximum for full time off, and more than 600,000 addresses were created.
The increase in new BTC headlines shows that people around the world are increasingly turning to bitcoins in the midst of a major cryptocurrency rally. Bitcoin’s price has risen nearly 400% this year, from under $ 4,000 in January 2020 to more than $ 18,000 on November 18, according to Cointelegraph.
Price hikes sparked greater fear of being overlooked and spurred adoption of the cryptocurrency at the fastest pace in three years. The current level of acceptance appears to be low. According to Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange platform Binance, the current cryptocurrency adoption rate is 0.1%, which means that only 1 person in 1,000 owns a cryptocurrency.