An Analytical platform revealed an increase in daily new Bitcoin addresses, suggesting the return of retail crypto investors to the market.
Analytical platform IntoTheBlock has revealed an increase in daily new Bitcoin addresses, suggesting the return of retail crypto investors to the market.
IntoTheBlock noted that the number of daily new Bitcoin addresses had declined steadily since November 2023, indicating fewer market participants.
However, the latest observation indicates a gradual shift in trend, with the number of new addresses increasing recently.IntoTheBlock Reveals Renewed Interest from Retail Investors
Glassnode data shows that on June 7, the number of new Bitcoin addresses for 2024 reached a low of 203,536. However, in August, the number of new Bitcoin addresses increased, oscillating between a low of 286,000 and a high of 337,000.
IntoTheBlock notes that this increase will potentially result in a more balanced market and a stronger foundation for Bitcoin’s next growth phase.
Notably, Bitcoin witnessed a notable price dip in early August, dropping to a low of $49,221 on August 5.
