According to Coin Metrics, the number of active addresses on Bitcoin's network has increased by more than 105% this year. In its latest report called "State of the Network," the company said the number of active addresses has doubled this year, reaching 1.2 million. A healthy marketplace Why is this important? It is proof that the market is healthy. The healthiest since 2017. More active addresses means more people are using cryptocurrencies - or at least buying them. Coin Metrics credits Bitcoin's success this year with flooding the market with institutional investors including Square, MicroStrategy and PayPal. This is not surprising given that, in fact, institutions already own about 5% of the current BTC supply. Soon after [institutional investors invested], the price of Bitcoin began to rise. In a rapidly changing world, Bitcoin is increasingly being advocated as a hedge against inflation and a form of digital gold. - we can read in the report. Bitcoin will grow in 2021 Coin Metrics also noted that this year the market capitalization of BTC has increased by more than $300 billion, and the number of addresses holding at least 0.01 BTC by more than 700,000. According to the company, next year we can expect even higher returns on investments in the oldest cryptocurrency. In many ways, Bitcoin is at its strongest, but it is closing in on 2020. Bitcoin is on the verge of reaching unprecedented highs in 2021. You can always check the current exchange rate of bitcoin and other cryptocurrencies at bitcoin.co.uk. Places where you can buy BTC and other coins include the BitBay.net cryptocurrency exchange. If you don't have an account on BitBay yet, this article will show you how you can create one efficiently: LINK. Tags Active BTC addresses bitcoin btc
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