Onchain Highlights

DEFINITION:The number of unique addresses holding a positive (non-zero) amount of coins.

Bitcoin’s number of addresses with a non-zero balance has seen a steady increase in 2024. After a dip in early January, the total number of unique addresses began to recover around March, with notable growth from May through September — now nearing 53.2 million.

Despite fluctuations in price, which has dropped from around $70,000 to under $60,000 since March, user activity has maintained upward momentum.

Historically, the metric has shown consistent growth, reflecting long-term adoption trends. As shown in the second chart, the number of non-zero addresses has been on an upward trajectory since 2010, only briefly declining during major market corrections, such as the 2018 bear market. The continued rise in 2024 aligns with broader market patterns following Bitcoin’s halving event in April.