The number of new wallets on the Bitcoin network has reached its lowest point since May 2018.

The average number of new wallets on the Bitcoin network decreased to 275,000 from May 13 to May 19, 2024, according to The Block. This marks a new low since May 2018.

This trend is confirmed by Glassnode data. On May 12, the daily number of new addresses dropped to 223,836.