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Crypto adoption is going fine because the number of BTC and ETH addresses grew in 2022 despite the bear market. In this article, you can see a chart showing the number of BTC and ETH addresses versus their prices in 2022.
The prices of BTC and ETH lost more than half their value last year, decreasing 64% and 67% respectively – but investors were not deterred. CoinGecko has crunched the data, and it appears that the number of BTC and ETH address grew over 27%, even as prices fell in 2022. As you can see in the following chart, the number of Bitcoin addresses holding at least 0.1 BTC increased by 0.8 million between during 2022. And Ethereum addresses increased too, from 1.41m to 1.73m.
Moreover, the number of BTC and ETH addresses with at least $1,000 steadily grew, by 27.5% and 28.1% over the year. This indicates that investors held or accumulated their crypto, or potentially that more participants entered the market as crypto adoption rose.
Read full study here: https://www.coingecko.com/research/publications/adoption-btc-eth-addresses
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