Bitcoin

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<p class="is-style-lead">Bitcoin is witnessing a surge of on-chain activity, with daily active addresses nearing 1 million, data indicates.</p>
<p>Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) march to $100,000 has driven a surge in on-chain activity, with <a href="https://x.com/intotheblock/status/1861338230676721786" target="_blank" rel="noopener noreferrer nofollow">data</a> from IntoTheBlock showing a shift in the cryptocurrency’s long-term activity trend. In a post on X on Nov. 26, on-chain analysts highlighted that the number of daily active addresses on the Bitcoin <a href="https://crypto.news/tag/blockchain/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> is “approaching 1 million,” calling it the “first prolonged increase of this scale since 2021.”</p>
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   <p lang="en" dir="ltr">Bitcoin's long-term activity trend has decisively shifted, with on-chain activity seeing significant growth.<br><br>The number of daily active addresses is approaching 1 million, representing the first prolonged increase of this scale since 2021. <a rel="noopener noreferrer nofollow" href="https://t.co/PheqxY52ej" target="_blank">pic.twitter.com/PheqxY52ej</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1861338230676721786?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 26, 2024</a>
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<p>Daily active addresses in blockchain refer to the number of unique addresses that participate in transactions within a 24-hour period. DAA is often used as a key metric to assess the level of user activity and adoption of a blockchain, such as Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) or Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>). A rise in daily active addresses typically indicates increased usage and interest among retail investors, which can be a sign of network growth or greater market demand.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitcoin-nears-100k-history-repeating-or-a-new-chapter-in-crypto/"> Bitcoin nears $100k: history repeating or a new chapter in crypto? </a></p>
<p>In early 2021, when DAA peaked at around 1.25 million, Bitcoin’s price surged to $60,000 before retreating to the $20,000 range.</p>
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   <p lang="en" dir="ltr">The battle for $100k <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> rages on. <br><br>While 60k addresses acquired 22.74k BTC above the current price, the real highlight is the growing support below: <br><br>458k addresses have amassed a staggering 344k BTC. A strong foundation to fuel a move beyond $100k <a rel="noopener noreferrer nofollow" href="https://t.co/jJ9zqSX1kR" target="_blank">pic.twitter.com/jJ9zqSX1kR</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1860974070696685992?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 25, 2024</a>
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<p>While the future trajectory of BTC is yet to be seen, IntoTheBlock’s data reveals that nearly 460,000 addresses have accumulated over 340,000 BTC at prices exceeding $97,000, suggesting a “strong foundation to fuel a move beyond $100k,” according to the analysts.</p>
<p>Meanwhile, spot Bitcoin exchange-traded funds in the U.S. show a <a href="https://crypto.news/bitcoin-etfs-record-438m-in-outflows-as-btc-dips-below-93k/" target="_blank" rel="noopener noreferrer nofollow">different trend</a>, with data revealing significant outflows this week as Bitcoin’s price fell below $93,000 amid a wave of long liquidations. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $438.38 million in outflows on Nov. 25, ending a five-day streak of inflows, following a record-high $3.38 billion in weekly inflows into these funds the previous week.</p>
<p>Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/traders-seen-553-million-crypto-liquidations-as-bitcoin-dropped-92k/"> Traders seen $553 million crypto liquidations as Bitcoin dropped $92k </a></p>

Bitcoin daily active addresses near 1m mark first time since 2021: data

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