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Bitcoin And EthereumDespite bear market conditions and the collapse of many crypto companies, adoption has grown over the past year, according to a Coingecko report.
Despite Bitcoin and Ethereum falling in value by more than 60% by 2022, crypto investors have still made significant investments in the primary digital currencies. As stated therein ReportThe number of addresses holding at least $1000 in crypto assets has increased by 27% in 2022.
During this period, addresses holding 0.1 BTC (approximately $1000) increased from 3.40 million registered on January 1 to 4.20 million as of December 31. On the other hand, addresses holding 1 ETH (minimum value $1000) rose from 1.41 million to 1.73. million at the same time.
BTC and ETH adoption experienced high growth in Q4 of 2022
Goingeco noted that the adoption rate of the top two digital assets grew to its highest level in the fourth quarter of this year, when Sam Bankman-Fried’s crypto empire collapsed.
According to the company, while addresses holding 0.1 BTC grew by an average of 7.3% each quarter, the adoption rate rose to 9.7% during FTX’s collapse. At the same time, addresses holding 1 ETH rose by an average of 7% each quarter and increased by 10.4% during the period.
Ethereum’s high adoption rate is linked to its maturity Migration A Evidence-share Consensus mechanism in September.
Crypto Sees Bull Start Until 2023
Meanwhile, BTC and ETH seem to have shaken off their poor performance of 2022, rising over 30% in the past month.
Over the past 30 days, the price performance of the two primary digital assets has returned to pre-FTX crash levels. Bitcoin traded above $23,000, while Ethereum rose above $1,600 for the first time since September 2022.
However, the run spread to other digital assets like Optos. Appropriate Token, which rose to A New all-time high. of Solana SOL And FTX’s native token, FTT, is also important Beneficiaries Price rise. In addition, the total crypto market cap for the industry recovered $1 trillion between bull runs.
As of press time, BTC traded at $23,468, while ETH traded hands at $1613.
Refusal
BeInCrypto has reached out to the company or person involved in the story to get an official statement on the latest developments, but has yet to hear back.
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