Bitcoin Wallets Analysis
The ‘Bitcoin Address Indicators’ table provides valuable insights into the activity and growth of the cryptocurrency market. As of 2024-05-27 14:00:00, the total number of addresses was 1,293,447,558, indicating a significant user base in the Bitcoin network. Additionally, it is noteworthy that the number of zero-balance addresses stood at 1,240,882,719, indicating a large portion of unused or dormant addresses.
The indicator showing the number of Bitcoin active addresses was 533,566, suggesting a relatively low level of active participation within the network. However, when considering addresses with balances above certain thresholds, we observe a decline in the number of addresses. For instance, the number of addresses with balances greater than 0.000001 Bitcoin was 3,406,783.
As we move up the balance threshold ladder, the number of addresses gradually decreases. For example, the number of addresses with balances above 1 Bitcoin declined sharply to 858,554. This indicates a higher concentration of Bitcoin holdings among fewer addresses.
Confidence in these observations is reinforced by the timestamp provided in the dataset, ensuring that the data reflects a specific point in time. The evidence from the dataset suggests that while there is a large user base in the Bitcoin network, a significant number of addresses remain dormant or hold low balances. This illustrates the importance of distinguishing between active and inactive users when analyzing cryptocurrency adoption and usage.
In conclusion, the ‘Bitcoin Address Indicators’ reveal insights into the Bitcoin network’s address activity and highlight a balance distribution pattern. The dataset provides evidence of a large user base but also indicates that a significant portion of addresses either remain unused or hold minimal balances. This analysis underscores the need to consider various threshold levels when evaluating the level of user engagement and Bitcoin distribution.
Bitcoin Address Types
| Date | Addresses | Variation | Indicator |
|---|---|---|---|
| 2024-05-27 14:00:00 | 1,293,447,558 | 0.00% | Total Addresses |
| 2024-05-27 14:00:00 | 1,240,882,719 | 0.00% | Zero Balance Addresses |
| 2024-05-27 14:00:00 | 533,566 | 0.00% | Bitcoin Active Addresses |
| 2024-05-27 14:00:00 | 540,753 | 0.00% | Addresses with over 0 |
| 2024-05-27 14:00:00 | 219,374 | 0.00% | Addresses with over 0.0000001 |
| 2024-05-27 14:00:00 | 3,406,783 | 0.00% | Addresses with over 0.000001 |
| 2024-05-27 14:00:00 | 10,259,986 | 0.00% | Addresses with over 0.00001 |
| 2024-05-27 14:00:00 | 13,595,414 | 0.00% | Addresses with over 0.0001 |
| 2024-05-27 14:00:00 | 11,963,021 | 0.00% | Addresses with over 0.001 |
| 2024-05-27 14:00:00 | 8,024,223 | 0.00% | Addresses with over 0.01 |
| 2024-05-27 14:00:00 | 3,543,836 | 0.00% | Addresses with over 0.1 |
| 2024-05-27 14:00:00 | 858,554 | 0.00% | Addresses with over 1 |
| 2024-05-27 14:00:00 | 136,986 | 0.00% | Addresses with over 10 |
| 2024-05-27 14:00:00 | 13,776 | 0.00% | Addresses with over 100 |
| 2024-05-27 14:00:00 | 2,027 | 0.00% | Addresses with over 1,000 |
| 2024-05-27 14:00:00 | 103 | 0.00% | Addresses with over 10,000 |
| 2024-05-27 14:00:00 | 3 | 0.00% | Addresses with over 100,000 |
Conclusions About the Bitcoin Network
The ‘Bitcoin Address Indicators’ dataset offers valuable insights into the usage and distribution of Bitcoin addresses. There is a large user base in the Bitcoin network, as evidenced by the total number of addresses. However, the number of active addresses and addresses with significant balances gradually decreases. This suggests a concentration of Bitcoin holdings among a smaller number of addresses. The provided timestamp instills confidence in the analysis, ensuring that the data reflects a specific point in time. The dataset provides evidence of both a thriving user base and a proportional concentration of Bitcoin holdings. Overall, this analysis emphasizes the importance of evaluating address activity and balance distribution when assessing the state of the Bitcoin market.
Disclaimer – Informational Content, Not Investment Advice
Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.
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