Bitcoin Active Addresses Surge to 8-Month High After Coldcard Panic
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Bitcoin active addresses spiked to roughly 0.98 million per day on July 31, the highest daily count since December 2024, according to Glassnode's August 6 report. The analytics firm said the surge was driven by security-driven migrations after attackers swept wallets whose seeds were generated by defective Coldcard firmware, with holders moving funds to alternative custody as an operational security response rather than a change in market conviction.
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Bitcoin (BTC) active addresses reached roughly 0.98 million a day on July 31, the highest daily count since December 2024, after attackers began sweeping wallets whose seeds were generated on defective Coldcard firmware.
Glassnode published the figure on August 6 and called the surge “fear-driven on-chain activity.” The analytics firm stated that “holders migrating seeds and moving funds to alternative custody reflects an operational security response, not a change in market conviction.”
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