Bitcoin is enjoying an increase in on-chain activity, with daily active addresses surpassing 1 million, a level not seen since 2019. Retail investors are mostly leading this growing wave of adoption, which could potentially trigger Bitcoin to surpass the much-anticipated $100,000 price point.
Recent blockchain data shows a major shift in activity, with analysts citing the highest growth since 2021. Daily active addresses are unique wallet addresses that participate in transactions throughout a 24-hour period, making them an important indicator for analyzing user involvement and network adoption.
Increased adoption among retail investorsThe increase in daily active addresses shows that Bitcoin’s user base is shifting away from institutional investors, or “whales,” and toward retail consumers. Retail investors often trade in smaller, less volatile amounts than whales, thereby stabilizing Bitcoin price swings.
Blockchain specialists see more activity as a sign of a healthier, more decentralized network. As retail interest grows, the network’s base improves, resulting in a more stable environment for long-term growth.
Price Changes and Market DynamicsDespite approaching $100,000 on November 22, Bitcoin saw a price correction and fell to $92,400. According to analysts, this dip is due to large-scale sell-offs by long-term holders rather than outflows from Bitcoin exchange-traded funds (ETFs) domiciled in the United States.
Although the price drop caused short-term volatility, the market views the constant increase in active addresses as a positive indicator. However, trading volumes have remained relatively steady, indicating that new investors have yet to make large purchases or sales.
Building momentum toward $100,000As Bitcoin’s on-chain activity increases, almost 460,000 wallet addresses have amassed more than 340,000 BTC at prices exceeding $97,000. This accumulation demonstrates strong support for a possible breakout above $100,000, laying a solid basis for future price swings.
The increase of active addresses highlights Bitcoin’s continued transformation from a speculative asset to a widely used digital currency. This growth not only shows larger retail interest but also solidifies Bitcoin’s position as the dominating force in the cryptocurrency market.
With network activity surging and retail engagement increasing, Bitcoin is primed for a new chapter of growth, edging closer to the landmark $100,000 mark.
