Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
The number of Bitcoin wallets which are holding at least 0.1 Bitcoin tokens has peaked to reach an all-time high.
According to new data from cryptocurrency aggregator, Glassnode, the number of wallets holding 0.1 or more BTC has topped the previously recorded number by 212 addresses. The new record of 3,054,282 addresses recorded on June 13 knocks the 21st May to second place.
📈 #Bitcoin $BTC Number of Addresses Holding 0.1+ coins just reached an ATH of 3,054,282.000
Previous ATH of 3,054,070.000 was observed on 21 May 2020
View metric:https://t.co/hZY8dBLpzX pic.twitter.com/ManhvoRSav
— glassnode alerts (@glassnodealerts) June 13, 2020
As the chart shows, the number of Bitcoin wallets holding 0.1 Bitcoin or more has been on the rise at a consistent level, with the exception of two dips: A minor one in 2017 and a sharp decline in 2018. However, both decreases recovered to maintain a steady rise.
Glassnode’s data shows that the number of Bitcoin holders with at least 0.1 Bitcoin grew from August 2017 to January 2018 by 45% over time, rising from 1.8 million addresses to 2.6 million.
Ethereum Addresses Are Also On The Rise
As Glassnode’s data shows, the number of Ethereum address holders has also been hitting new recorded highs, with Ether wallets holding at least 01. Eth climbing to 2,984,080 addresses.
📈 #Ethereum $ETH Number of Addresses Holding 0.1+ coins just reached an ATH of 2,984,080.000
Previous ATH of 2,984,040.000 was observed on 13 June 2020
View metric:https://t.co/rW81qhwy4d pic.twitter.com/EDuPLHS8s6
— glassnode alerts (@glassnodealerts) June 13, 2020
However, it’s worth noting that the chart of Ether holders shows significantly less steady growth than Bitcoin holders. A sharp increase correlates with the epic bull run towards the end of 2017, but addresses holding the leading altcoin have not maintained a consistent gradient. Rather, the chart shows choppy growth. The latest surge in Ether addresses could align with the global pandemic and global lockdown. Whether or not the addresses are rising as a result of the economic concerns surrounding the Coronavirus will be seen in time.