With the price of Bitcoin (BTC) hitting a three-year high, people around the world are defining their move to the world's largest cryptocurrency.
Glassnode, one of the largest providers of analytical data on cryptocurrencies, has seen a huge increase in the number of new Bitcoin addresses recently. According to the company, the number of new BTC addresses registered per hour reached almost 25,000 addresses for the first time since January 2018 - the month following Bitcoin's highest record of $ 20,000.
The rise in new BTC addresses shows that people around the world are increasingly turning to Bitcoin amid a huge race for global and deflationary assets
Psychology has also forced many to join the crypto community, the rising prices have generated a great fear of missing out on the opportunity, accelerating the adoption of cryptocurrency at the highest pace of the past three years.
However, the current level of adoption is still apparently low. According to Changpeng Zhao, the CEO of the world's largest cryptocurrency exchange, Binance, the current encryption adoption rate is 0.1%, meaning that only one person in 1,000 people has cryptocurrencies to date.