Bitcoin adoption reaches highest mark in history: 220 million active addresses

by Stephen Douglas
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Bitcoin adoption reaches highest mark in history: million active
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Bitcoin adoption reaches highest mark in history: 220 million active addresses
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Bitcoin registered a historic milestone in its trajectory, with the adoption of the cryptocurrency reaching new records. According to recent data from research conducted by a16zcrypto, a venture capital fund specialized in cryptocurrencies and Web3, the number of monthly active crypto addresses reached 220 million in September 2024.

This number represents a tripling compared to the end of last year, highlighting the significant growth in activity in the cryptocurrency market, especially Bitcoin.

The concept of a cryptocurrency address refers to a unique identifier used to send and receive digital assets, such as Bitcoin. The monthly active addresses metric takes into account transactions carried out within a month, and the same user can have several of these digital accounts.

Still, this massive increase indicates a clear advance in the use of cryptocurrencies, especially in blockchain-based networks.

Explosion of global Bitcoin adoption

The explosion in the number of active addresses is not limited to a single network. Solana, for example, has around 100 million active addresses, while other networks, such as Base, continue with 22 million addresses.

However, Bitcoin continues to be the most adopted cryptocurrency globally, being one of the main drivers of this increase in numbers. According to a16zcrypto, the growth trajectory of adoption of Bitcoin and other cryptocurrencies follows a similar curve to the initial adoption of the internet in the 1990s.

Based on this trend, experts project that by 2031, more than 1 billion cryptoactive addresses will be active monthly. This growth not only reflects the growing interest in cryptocurrencies, but also improved infrastructure, which makes it easier to use and develop new applications for consumers and businesses.

In addition to active addresses, the research shows that the number of monthly users of mobile crypto wallets also reached an all-time high of 29 million in June 2024. This data reveals that more and more people are using their digital wallets to carry out daily transactions, reinforcing the idea that Bitcoin and other cryptocurrencies are gaining ground as a form of payment and store of value.

Bitcoin adoption reaches highest mark in history: 220 million active addresses

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Bitcoin adoption reaches highest mark in history: 220 million active addresses

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