• The number of Bitcoin addresses that are currently in profit has reached a 9-month high.
• Addresses with 0.01+ coins is at an all-time high.
• Bitcoin’s latest price action has resulted in more than 30 million unique addresses in profit.

The cryptocurrency space has seen a significant amount of growth in the past year, and Bitcoin has been at the forefront of this surge in popularity. On-chain data shared by crypto platform Glassnode shows that Bitcoin addresses in profit is currently at a 9-month high of 30+ million. This means that these 30 million plus BTC addresses currently hold coins that were valued lower at the time of their purchase when compared to their current value.

The last time these many BTC addresses were in profit was in April-early May 2022 – with this happening as the events of Terra and Three Arrows Capital collapse helped to push prices below $40k. Bitcoin eventually sank to lows of $15,600 in November amid the FTX-triggered sell-off that likely saw more people buy Bitcoin. Now BTC is up more than $50,000, with more people reaping the rewards of having bought at a lower price.

At the same time, the number of non-zero Bitcoin addresses is also at a 1-month high. This means that more people are holding Bitcoin in their wallets than ever before. Additionally, the number of addresses with 0.01+ BTC is also at an all-time high, which suggests that more people are making relatively small investments in the crypto asset.

The high number of addresses in profit is a good sign for the crypto market, as it shows that more people are reaping the rewards of their investments. With more people buying Bitcoin and holding it in their wallets, there is a strong possibility that the market will continue to see growth in the future.