Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The number of new Bitcoin wallets has dropped to its lowest level since 2018.</li>
 <li>Despite the decrease, novel Bitcoin protocols are attracting significant interest from Venture Capital firms.</li>
</ul>
<p>The excitement surrounding spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, advancements in the Bitcoin ecosystem, and the impending halving drove the average weekly number of new Bitcoin addresses to near-record levels six months ago.</p>
<p>However, similar to the situation in early 2018, the number of new addresses joining the network has significantly decreased as the enthusiasm for new Bitcoin projects has waned.</p>
<h2 id="data-indicating-decrease">Data Indicating Decrease</h2>
<p>Recent data reveals that only an average of 275,000 addresses were added to the Bitcoin network each day in the past week, a stark contrast to the 625,000 new addresses added daily six months ago.</p>
<p>Other related indicators, including miner revenue as determined by hash rate, have also hit record lows. Transaction fees on the network, as well as on-chain volume metrics, have also seen a decline.</p>
<h2 id="potential-comeback">Potential Comeback</h2>
<p>Despite the current decline in on-chain metrics, new protocols on the Bitcoin network are drawing extraordinary interest from Venture Capital firms. This could potentially set the stage for a resurgence in the future.</p>

Bitcoin Wallet Creations at a Remarkable Low Since 2018

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