Even after all the drama this year, we have over 11.3M bitcoin addresses with at least 0.01BTC. A new ATH and indeed not a small number.

Say what you will about this year and the current state of the crypto market but some metrics are just too hard to debunk. One of the are usually the steady increase in bitcoin addresses over time. While newWhale addresses usually make headlines we should also focus lower and simpler. The amount of BTC addresses with at least 0.01BTC (which is about $160 right now), usually also called crab (0.01BTC to 1BTC) addresses, have increased to a new ATH this year!

​

Chart from OnChainCollege on Twitter

As we can see on this chart, we saw a massive increase from 6M during the bottom of the 2018 bear market to now 11.3M in the 2022 bear market. Just one bull market made this addresses increase by nearly 100% and add nearly 6M new “people“ to crypto.

Its especially unusual to increase so fast right now as bear market always saw those addresses decline rapidly, for example in 2018 from over 7M to under 5.9M. What does this now exactly say? Perhaps we have entered a very different kind of bear market or we even got to “a point of no return“ where the on.chain metrics of crypto will just increase and no one will care about the price as much as before.

Nevertheless, even after all of this drama in this bear market people who really believe in crypto are not scared away and we are probably even seeing new investors trying to take this opportunity.