Number of accumulation addresses has been increasing consistently

According to data, the number of accumulation addresses (addresses that have at least two incoming non-dust transfers and have never spent funds) has been increasing consistently during the current bear market, suggesting that “hodlers” are unfazed by current price levels.

In addition, the number of addresses with a non-zero balance stands around 42.7 million versus 39.6 million at the beginning of this year, showing consistent user growth in a bear market.