Glassnode Reveals Siesmic Bitcoin (BTC) Shift Now Underway As Leading Crypto Targets $8,000

Blockchain data provider Glassnode says it’s tracking a substantial increase in Bitcoin (BTC) transactions following the cryptocurrency crash in March.

In a newsletter published on April 23rd, Glassnode reveals that the leading cryptocurrency is seeing an increase in activities between April 15th and April 22th, and over the past month.

On-chain fundamentals show that active BTC addresses increased by 8.93% in the last week and by 19.47% in the last month. Transaction counts are up by 5.10% over the last week and 14.74% in the last month.

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The number of active entities, or the number of active addresses on the Bitcoin network, has also jumped to levels not seen since July of 2019.

Glassnode says the numbers show new investors may be exploring the market, marking a shift from low activity levels that hounded the crypto space after the crash.

“This represents not only a recovery to pre-crash levels, but also a significant increase in activity as compared to the start of 2020. This spike in activity is to be expected due to the upcoming halving, as well as a revival in widespread retail interest in bitcoin.”

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