🚨🚨Bitcoin (BTC) addresses with balance up to $1,000 reach an all-time high🚀🚀
Bitcoin (BTC) still depends on whale-scale activity for some of its biggest price moves. Older retail buyers have also been shaken down during previous bull runs, but small-scale wallets continue to increase.
New Bitcoin (BTC) wallets with a balance over $100 and $1,000 have gradually increased to reach a new all-time high. While some legacy retail traders sold some of their holdings to whales, a new trend of newcomers dipping their toes in crypto for the first time was developing. The trend reflects a shift to self-custodial wallets, despite the availability of other tools to own crypto.
Based on Glassnode data, Bitcoin wallets with over $100 and over $1,000 are at an all-time high, with up to 37M wallets combined. The trend follows the overall increase in crypto owners worldwide, with growth coming from all regions. The share of retail wallets is also significant, as the network has built up over 200M known wallets.
Bitcoin wallets grow through accumulation, retail spending
The rate of increase in BTC ownership accelerated in 2024, as a response to the resilience of the market. Last year’s bull market convinced new buyers to create wallets, as Bitcoin proved its ability to survive crashes and continue to grow.
Small-scale wallets may have also grown in response to more available payment gateways. BTC is more widely used as a store of value, as payments have shifted to stablecoins. However, BTC is still convenient with relatively lower fees, and is widely accepted for online payments.
