January was a record-breaking month for Bitcoin price and network activity. In the past 31 days, 22.3 million addresses have sent and received BTC.
Crypto data collector Glassnode, who shared the data, reported that the highest number of monthly active addresses in Bitcoin’s history was seen in January:
#Bitcoin network activity at ATH.
In January, more than 22.3 million unique addresses were active in the network sending or receiving $ BTC – the highest monthly number in Bitcoin’s history to date
Chart: https://t.co/yPPOix0KFx pic.twitter.com/yjWwYbRC98
— glassnode (@glassnode) February 1, 2021
The number of active addresses previously broke a record with more than 21 million addresses in December 2017. Since then, the number of addresses transacting Bitcoin has not fallen below 10 million per month.
Despite the increase in the number of active addresses, Glassnode announced that the number of “active formations”, which peaked in early January, decreased significantly.
Glassnode defines occurrences as “sets of addresses controlled by the same network formation”.
Bitcoin transaction volume rose to record levels as the Bitcoin price reached $ 42,000 last month. The BTC price entered a three-week period of consolidation right after the record.