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The on-chain data suggest that investors who were previously on the sidelines are now seen jumping over the flagship cryptocurrency’s network as the number of Bitcoin ($BTC) addresses with small holdings has recently hit a new all-time high.
As per data of September 15, coming from Glassnode, the number of Bitcoin addresses holding at least 0.01 BTC, worth nearly $200, has surged up to a new high of 10.7 million. Popular analyst Ali Martinez also suggested that the number of new daily BTC addresses being created on Bitcoin is rising as there is a ‘spike in interest from sidelined investors’ who are now pulling up BTC below $20,000 per coin.