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Bitcoin Inches Closer to a 10-Year Record, as Other Stats Turn Bullish
Bitcoin News

Bitcoin Inches Closer to a 10-Year Record, as Other Stats Turn Bullish

Bitcoin is just one day away from breaking a nearly 10-year-old record, while Ethereum could reach a huge milestone by Q2.

If the upward price trend continues, Bitcoin, the world’s first cryptocurrency, will be one day away from matching its historic 15-day winning streak.

Bitcoin saw the longest 15-day constant positive price movement in its history in November 2013.

BTC is currently on day 14 of its winning streak, setting four-month highs in the process.

With one more day of price increases, the index will match its 2013 streak. If it continues for another day, it will set a new 16-day record.

It’s not the only bullish indicator breaking new ground.

Given the current number of wallet addresses and the metric’s historical growth rate, Ethereum addresses holding at least some Ether will shortly surpass the 100 million milestone.

The number of non-zero ETH addresses reached an all-time high of roughly 92.5 million on January 16, according to crypto analytics firm Glassnode.

Ethereum is only 7.5 million non-zero addresses away from reaching the 100 million mark, according to the data.

Since 2019, the figure has increased by approximately 20 million per year. If this trend continues, non-zero ETH wallets might reach 100 million by the second quarter of 2023.

Another Ethereum statistic that has grown in recent years is the number of validators – entities responsible for validating blockchain transactions.

According to BeaconScan data, the ETH validator count surpassed 500,000 on January 12.

It comes as the Shanghai hard fork scheduled for March will, among other things, allow validators to withdraw their ETH staked to assist validate the network.

The United States is the most welcoming country for people looking to spend their cryptocurrency on shopping.

According to the Jan. 14 Forex Suggest Crypto Acceptance Report, more than half of the organisations accepting crypto as payment were headquartered in the United States, giving the country the top rank for the number of crypto-accepting firms.

The United States was followed by runner-up the United Kingdom, with America’s northern neighbours, Canada, taking third position.

The most crypto-accepting industry was e-commerce, closely followed by the travel industry.

Microsoft, the world’s largest company by market capitalization, was the first to accept cryptocurrency.

Not everything was upbeat. Wrapped Bitcoin (WBTC), an Ethereum-based tokenized and 1:1 backed form of Bitcoin, has seen its supply on the Ethereum blockchain fall by 35% since May 2022.

Glassnode reported the May 2022 all-time high of 285,000 WBTC on Ethereum in a tweet on January 17, just before the price crash of TerraLunaClassic (LUNC) and its linked algorithmic stablecoin TerraClassicUSD (USTC).

Over the course of 2022, the number of WBTC has decreased by 101,550, and the blockchain presently hosts around 183,500 tokenized Bitcoin.

 

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