UFC Lightweight champion Eddie Alvarez is jumping into bitcoin (BTC), after claiming yesterday on his Twitter account that he bought one full BTC currently worth just under $10,000. Data from BitInfoCharts also show rising network usage, as well as tweet incidence as the Bitcoin halving approaches in just three days.
All right @Benaskren I finally jumped in and grabbed 1 Bitcoin , I can’t sit on the sidelines any longer . You got me !!! I still have no clue what it’s all about but I’m in ... you might have to coach me they this .— Eddie Alvarez (@Ealvarezfight) May 7, 2020
Alvarez has jumped on the Bitcoin train despite “[having] no clue what it’s all about,” apparently coached into the purchase by fellow MMA fighter and former Olympic wrestler – and presumably friend – Ben Askren, whom Alvarez mentioned in the tweet. Askren is himself clearly a huge fan of the leading crypto, whose Twitter page festooned with articles and halving forecasts.
Active Addresses Rising
One piece of hard data we might use to correlate this anecdote is the ascending number of active addresses on the Bitcoin network, taken from data on BitInfoCharts.com. They define this statistic as the “Number of unique (from or to) addresses per day."
We can clearly see that the number of active addresses has been hovering around 650,000 per day, until this February when it started to fluctuate significantly. Since roughly mid-April, active addresses have been steadily rising and are now numbering about 880,000.
Activity on the Bitcoin network is clearly rising, which may reflect a rise in novice users just coming into the Bitcoin / crypto space.
Looking at another BitInfoCharts dataset, we see more supporting evidence for this thesis. The number of daily tweets about Bitcoin have increased significantly in the latter half of April, from about 30,000 to nearly 50,000 now.
With the Bitcoin halving just days away, a buzz may be picking up.
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