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22.3 million Bitcoin addresses were active during January

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January was a document month for Bitcoin’s worth and community exercise, with greater than 22.3 million distinctive addresses actively sending or receiving BTC over 31 days.

The milestone was noticed by crypto market knowledge aggregator Glassnode, who tweeted that January had seen the very best month-to-month variety of distinctive lively addresses in Bitcoin’s historical past:

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January’s spike in exercise beats out the earlier document of greater than 21 million lively addresses from December 2017. Since 2017, the variety of distinctive addresses partaking with Bitcoin has not fallen under 10 million monthly.

Regardless of the rise in distinctive lively wallets, Glassnode additionally noted the variety of “lively entities” on the Bitcoin community has decreased considerably since spiking into new highs in early January.

Glassnode defines an entity as “a cluster of addresses which might be managed by the identical community entity.”

Bitcoin commerce volumes spiked to document ranges final month as Bitcoin surged previous $30,000 to put up all-time highs close to $42,000 on Jan. 8 earlier than posting three weeks of aggressive range-bound consolidation.

BTC/USD since Dec 2020, 4-hr chart: TradingView

On Feb. 2, U.S.-based trade Kraken announced it had processed extra transactional quantity throughout January 2021 than it had throughout all of 2019, with $56 billion value of property altering fingers on the platform final month.

The month noticed quite a few cryptocurrency exchanges experience outages, with Kraken and Coinbase announcing measures supposed to forestall future failures within the occasion of surging site visitors and quantity.