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Network Usage Shows Durable Adoption
- Bitcoin has settled over 800 million transactions and $107 trillion cumulative value in ~13 years.
- Active addresses show higher lows each cycle, indicating more users stick around after bear markets.
Smaller Wallets Increasing Their Share
- Small wallets (<10 BTC) now hold over 17% of supply and that share has accelerated recently.
- After labeling exchanges/custodians, supply distribution looks more favorable and more decentralized over time.
Address Growth Matches 2021 Momentum
- Address growth momentum recently hit rates not seen since early 2021's major bull run.
- Smaller entities are aggressively accumulating even as large buyers like MicroStrategy also buy.