Onchain Analysis Other

Bitcoin Address non-Zero in ATH: why it’s not an accumulation

The past 3 weeks have witnessed a major event in address distribution, a mighty rise to ATH of non-Zero Bitcoin addresses, or the summation of all Bitcoin addresses containing at least 1 satoshi.

BTC Address non-ZERO

In the image depicted above, it can be seen that the last three weeks have seen a parabolic ascent of this metric, a parabolic ascent that is not present in any other metric regarding the distribution of addresses; in fact, for the most part they are declining or at best stable.

Numerous Bitcoin newspaper, Twitter and Telegram channels have portrayed this event as positive, as a sign of important Bitcoin accumulation by Retail investors, but is this really the case or can it be explained differently?

The Block Size, what happens?

Block Size Bitcoin
Source :

The above image shows the total block size of bitcoin. As is easy to see, a disproportion to the historical graph is evident. The Block Size has been growing steadily as transactions have increased, but for the past few days it has had an abrupt increase, doubling from the historical. Once again, why this anomaly ? How is it possible to explain everything ?

Ordinals’ responsibilities

Ordinals preview

As of January 21, 2023, the race for Ordinals, i.e., digital artifacts, has begun. Ordinals are created by enrolling sats, and to them are included content, such as an image, an HTML url, text, in order to keep these artifacts one must keep the transaction (UTXO), i.e., an unspent transaction.

Btc Address non-Zero with divisor

If we apply a separator exactly on the date when the publication of Ordinals began here is where this anomalous movement of the distribution of non-Zero addresses is explained.

As always, onchain data tells objective data, while analytics is essential to really understand what is happening.

How will Ordinals affect Bitcoin ?

Mempool stats

The past few hours have seen a major increase in transaction verification wait times, and an increase in transaction costs.

How sustainable is all this? What can we expect in the long term? We will explore this in more detail in the near future

Other Service info Wallet

TAG Binance : Important Updates

All Binance addresses have been tagged with description:

  • Deposit Wallet
  • Cold Wallet
  • Hot Withdrawal Wallet
  • others of different use (e.g. Pool)

Why is TAG important and how to interpret the information?

Binance has a 3-tier structure (with minor exceptions).

  • Deposit Wallet : users’ deposit addresses
  • Hot Withdrawal Wallet : addresses for withdrawals
  • Cold Wallet : are long-term storage addresses

Tag differentiation allows the user a quick understanding of the movement. Rather than seeing a simple In/Out from today you will see (on Binance, but work is being done on improving all exchanges) the detail of the movement.

In the diagram above we have a simplified view of how Binance’s Bitcoin management works in broad strokes.

Deposit Wallets are the addresses that, trivially, the user displays in his Binance account to make the deposit; when the user/entity deposits more than 200 Bitcoins at that point BtcInOutAlert notifies the inflow. Thereafter, Binance typically moves the inflow to another Binance address, in most cases to the Withdrawals Wallet. In contrast, the opposite reasoning applies to outflows, where Bitcoins are sent from the Withdrawals Wallet to an external address (outflow) not in Binance’s control.

The most important movements, as can be imagined, are those inbound (inflow) to Deposit Wallets, and outbound (outflow) from the withdrawal wallet to external addresses.

All Binance addresses have been Taggated with the aim of improving the service offered and offering a detail to date not available from any alternative service to BtcInOutAlert, with the goal in the coming weeks of expanding the details of the Notification Tags to most addresses.

If you would like to receive real-time notifications and access to premium data, please follow the LINK

Onchain Analysis Other

Binance Hot Wallet 38,000 BTC OUTFLOW

A rather anomalous outflow movement from the Binance Hot wallet has occurred in the past few hours. Over 38,000 Bitcoin (About $661 million) have been transferred out of the Binance wallet in just 48 hours. As can be seen on every timeframe, the Outflow is way out of scale.

Bitcoin Netflow H1 Exchange Binance Hot Wallet 38,000 BTC OUTFLOW

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

Bitcoin Netflow H4 Exchange Binance Hot Wallet 38,000 BTC OUTFLOW

An abnormal event in a short period of hours, all the more so at the current price level, especially from one exchange : Binance.

Report Netflow Exchange Binance Hot Wallet 38,000 BTC OUTFLOW
Source :

All Bitcoins are coming out of the Binance Hot Wallet, a single address : bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h

In recent hours there have been unhappy reports about Binance and its possible failure to cover.
We will be following very very closely in the coming hours; we may be at the beginning of something very very important.

Outflow movements are still occurring, so new updates will follow.

Is this a accumulation or a Bankrun Start?


Other Charts


Address Distribution


Other Data

Other Satoshi

Satoshi is back ?

[adinserter name=”CoinAdsenseRotation”]

[adinserter name=”CoinAdsenseRotationMobile”]

Late in the day on 02 December 2022, after a funny innocuous message, like so many that are posted in a forum, invited to “post the signature with the oldest key of the address owned,” a kind of challenge to publicly show the oldest bitcoin owned.

A user appears, newly registered to the forum by the name “OneSignature,” this user signs with an address that has mined bitcoin at block 1018, two weeks since the start of bitcoin.

The address traceable to the signature is : 1NChfewU45oy7Dgn51HwkBFSixaTnyakfj

There is a first transaction on 19 January 2009, and it can be traced back to the reward of 50 mined Bitcoin. Recall that in those days Bitcoin was mined directly from the wallet, there were no pools, and the reward was 50 Bitcoins per block.

Bitinfochart screenshot

Could the person who holds the key to this wallet be Satoshi? It could, certainly it is the oldest signature ever published

Below is the signature :


You can follow the discussion on the topic Bitcointalk :

Archive :

I’ll go make popcorn 🙂

Other Charts


Address Distribution


Other Data

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