With hopes for a bullish 2022, Glassnode has revealed that 913,000 new Bitcoin addresses were created between early November to the beginning of December of this year.
On-Chain College, an on-chain analyst, also shared data regarding this which suggests new trends may be coming our way with the almost 1 million new entries.
The price action may be bearish in the short term, but the Twitter flood indicates that the macro outlook for Bitcoin continues to be strong. Between June 2020 and December 2021, the total of wallet addresses that had a balance over zero has trended up from 30 million wallets to 40 million.
Glassnode considered the non-zero balance metric as the number of unique addresses that hold a positive (above zero) amount of coins. When the number trends up it means that new users have decided to join the Bitcoin network.
When it trends down, as it happened between May and July of this year, it means that users are deciding to empty their wallets to zero ownership of crypto.
After this data was made public, people began questioning if this is a general trend or if it was just general excitement following BTC’s new ATH.