The number of profitable Bitcoin addresses has increased to an all-time high of almost 40 million, even though the cryptocurrency’s value is currently trading at half its peak price.
As per the Glassnode data, 80% of Bitcoin addresses are currently profitable, with the price of Bitcoin around $34,000. This surpasses the previous record of 38.1 million that was set in November 2021 as the highest number ever.
Back then, Bitcoin waas at all-time high, and every address that had money in it was in profit. There are currently 48.3 million non-zero addresses, even though the price is 50% less than those peak levels.
Despite not reaching their previous peak performance in absolute terms, the percentage of profitable addresses has risen to 81.1% at an 18-month high. Conversely, there are just over 9 million addresses that are at a loss, which was around 20 million at the time of FTX crash, December 2022.
Also Read: BitMEX to Update Customer BTC Addresses from Nov 1, 2023
