Bitcoin’s price surges past $28k as non-zero BTC addresses reach 5-year high

The global capitalization has surged by roughly $27 billion in less than 24 hours as bitcoin (BTC) rallied above $28,000.

The largest cryptocurrency by market cap, BTC, has been consolidating between $26,700 and $27,100 since May 11. However, with the recent global hike, the coin is now up 3% in the past 24 hours.

BTC price – May 29 | Source: Trading ViewWhen writing on May 29, bitcoin is trading at around $28,025. Its 24-hour trading volume is up 65%, surpassing the $16 billion mark, pushing BTC’s market capitalization above $543 billion.

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TikTokker mortgages house for $500K to buy XRP, now losing money According to data provided by CoinMarketCap (CMC), the rise in bitcoin’s price comes as the global crypto market capitalization grew by 2.35% in the past 24 hours, reaching $1.162 trillion.

The surge in prices coincides with news Glassnode data revealing that the number of non-zero Bitcoin addresses is at a new all-time high (ATH) of 47,220,463. The number of wallets holding BTC slightly dropped in late April but has been constantly growing despite suppressed prices.

Non-zero Bitcoin addresses – May 29 | Source: Glassnode’s TwitterOn the other hand, GlassNode data shows that the total number of BTC assumed to be lost or held in dormant addresses stood at 7,725,079 bitcoins, marking a five-year high.

BTC lost or HODLed – May 29 | Source: Glassnode’s Twitter

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