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Global capitalization has increased by around $27 billion in less than 24 hours as Bitcoin (BTC) surged above $28,000.
The largest cryptocurrency by market cap, BTC, has been consolidating between $26,700 and $27,100 since May 11. However, due to the recent global surge, the coin is up 3% in the last 24 hours.
BTC price – May 29 | Source: TradingView
At the time of writing on May 29, Bitcoin is trading at around $28,025. Its 24-hour trading volume has increased by 65% and surpassed the $16 billion mark, taking BTC’s market cap above $543 billion.
According to data from CoinMarketCap (CMC), the surge in bitcoin price comes as the global crypto market cap has increased by 2.35% over the past 24 hours to $1.162 trillion.
The price surge coincides with news from Glassnode showing that the number of non-zero bitcoin addresses hit a new all-time high (ATH) at 47,220,463. The number of wallets with BTC fell slightly at the end of April, but has grown steadily despite depressed prices.
Bitcoin Non-Zero Addresses – May 29 | Source: Glassnode Twitter
On the other hand, GlassNode data shows that the total number of BTC believed to have been lost or held in dormant addresses was 7,725,079 bitcoins, a five-year high.
BTC Lost or HODLed – May 29 | Source: Glassnode Twitter
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