Chainalysis Research: Only 20% of Bitcoin (BTC) Addresses are Economically Active

The Bitcoin (BTC) network reports more than 800,000 transactions in a day, but most of those transactions and transfers are not economically relevant, shows a Chainalysis report. Initially, the idea of Bitcoin was to serve as peer-to-peer electronic cash. But the days of transactions between peers are gone. Currently, more than 86% of the active addresses that hold BTC are a kind of service wallet, for payment services or exchanges.

The entire network has 460 million addresses, but a small fraction of them contain coins. Some were used as “change addresses”, due to the way of accounting for the s…

This article appeared first on Cryptovest

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