NEWSLETTER
Bitcoin (BTC) is one day away from breaking a nearly 10-year high, and Ethereum could hit a significant milestone in Q2.
Furthermore, the world’s largest cryptocurrency is one day away from matching its historic 15-day winning streak if the positive move continues.
Bitcoin experienced a consistent positive price movement for 15 days in November 2013, the longest streak in its history.
Today is day 14 of BTC’s winning streak, hitting four-month highs.
With one more day of price rises, the index will match its streak from 2013. If Bitcoin gains another day, it will set a new all-time high with a 16-day winning streak.
It is not the only bullish indicator breaking new ground. Given the current number of wallet addresses and the historical growth rate of the metric, Ethereum addresses containing at least some Ether will soon surpass the 100 million mark.
Glassnode, a cryptanalysis firm, announced on Jan. 16 that non-zero ETH addresses had reached an all-time high of nearly 92.5 million.
Ethereum wallets could reach 100 million
Ethereum is only 7.5 million non-zero addresses away from the 100 million mark.
Since 2019, the number has increased by approximately 20 million per year. If this trend continues, non-zero ETH wallets could reach 100 million by Q2 2023.
The most widely accepted cryptocurrency industry was e-commerce, followed by the travel industry.
Microsoft, the world’s largest company by market capitalization, was the first to accept cryptocurrency. However, not everything was rosy. Wrapped Bitcoin (WBTC), a 1:1 backed and tokenized version of BTC on the ETH blockchain, has seen a 35% drop since May.
Glassnode revealed the May 2022 all-time high of 285,000 WBTC on Ethereum in a tweet on Jan. 17, just before the price collapse of TerraLunaClassic (LUNC) and its paired algorithmic stablecoin TerraClassicUSD (USTC).
The bullish sentiment has spread to other cryptocurrency-related assets. This month, the second most traded cryptocurrency is up 31% to over $1,575. The token allows programmers to code functions to automatically buy and sell assets. Therefore, it is a building block for crypto projects.
