Only 37 percent of Bitcoin (BTC) addresses in its network are “economically relevant,” according to a report released by research firm Chainalysis.
Economically relevant addresses are controlled by individuals or services who currently own Bitcoin, and constitute only 172 million addresses out of the 460 million current addresses.
The remaining 63% – 288 million address either hold 0 balance or were used only once.
Looking deeper the report finds that there are really only 25 million private wallets that are economically relevant, whilst the majority of economically relevant addresses are owned by ‘named services’ such as exchanges and merchants.
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