The number of new BTC addresses has reached a new minimum

As you know, it’s no secret, not surprisingly, that the last few months haven’t been very encouraging for the crypto industry. The cryptocurrency market has fallen from less than half its current price from its all-time high last year. Well-known crypto analyst Ali Martinez has published a tweet that tracks the number of new BTC addresses created since November. The data show that there has been a significant decline in the last few months, followed by a sharp fall on 23 May.

Martines reports that the average number of wallets created as of May 24 was 376,488, an average drop of over 450,000 compared to November’s figure, a decrease of approximately 11.41%. In addition, Martinez also notes that “23 BTC whales have left the network or distributed their holdings in the last ten days. A bitcoin whale is someone who owns 1,000 or more BTCs. Bitcoin is currently trading at $28,997.76.