In the first half of 2021, almost half a million new Bitcoin addresses were created

The Bitcoin network continues to record growth in activity on its blockchain, despite a decline that has been going on since a record in terms of activity was set in April this year. Something like that can be seen by the number of newly-created addresses.

According to data handled by the Blockchain Center, an average of 488,206 new bitcoin addresses were created per day in the first half of this year. In total, 88,365,209 were created in the first six months of 2021. But, something like that should primarily be attributed to the activity through the first quarter, that is, the first three months of this year.

Then cryptocurrencies broke records and brought exceptional profits to everyone involved in their trading, only to collapse around March. This can also be seen in terms of activity, because in January an average of 551,132 new addresses were opened every day, in February slightly less - 550,800.

Then comes March and with it a slight decline to 526,670 addresses, and in April the negative trend continued with a decline to 496,311 new addresses per day. In May, there was a decline to 436,567 new addresses and in June the worst situation was with 370,269 new addresses.

However, cryptocurrencies are slowly returning to value, so in the second half of this year, it is very likely that everything will return to the level as in the first quarter, which is why everyone involved can be more than satisfied.

Only, what are these bitcoin addresses and what are they for? They are something like bank accounts, but they are much easier to open, safer, and it is more difficult to track their activity, even by those who specialize in tracking bitcoin activity.

Also, users are constantly opening new addresses because as soon as one is used, it becomes vulnerable to attacks, which means that it is better to open new ones when handling bitcoin and thus further protect yourself. And something like that is not a problem because opening a new bitcoin address is quite easy, not only easier than opening a bank account but also, for example, a Facebook account ...

By: Olivia J. - Zexron