A Few altcoins made gains, and BTC supply on exchanges keeps going down.
Since late February, when Russia invaded Ukraine, the number of bitcoin wallet addresses has been increasing, according to a new data on-chain analytics platform, Santiment.
The data further revealed that more than 1,629 BTC whale addresses are now on the millionaire status. It is the first time some of these wallets are reaching this status, while others are regaining their millionaire status. Santiment defines BTC whales as those whose crypto wallet addresses have between 10K and 100K BTC.
🦈🐳 The number of #Bitcoin addresses has been increasing since the #RussianUkrainianWar began. Since then, there are 1,629 shark and whale addresses holding between 10 to 100k that are either new or have returned to this millionaire (or above) status. 📈https://t.co/08ytC3aMhW pic.twitter.com/9Ts70gdfHJ
— Santiment (@santimentfeed) April 27, 2022
Another Santiment data revealed that the majority of the altcoins are down by 10% in the last seven days and 20% in the last 30 days. However, some of the top 100 digital assets made gains on Wednesday, with some making double-digit gains – a rare feat considering the current happenings in the crypto market. Some of the digital assets and the gains they made are GMT (12%), CVX (12%), and LDO (10%).
📊 Most #altcoins are still down -10% over the past week, and -20% over the past month. But the top 100 largest #crypto assets by market cap had a rare April green day. $GMT (+14%), $CVX (+12%), and $LDO (+10%) are notable risers. 📈https://t.co/S94F1DJZpj pic.twitter.com/bCEG1fuX3W
— Santiment (@santimentfeed) April 28, 2022
BTC gains 2.44% in 24 hours
After dipping below $38K, the leading cryptocurrency was slightly bullish on Wednesday, which preceded a steady rise to $39.4K on Thursday morning, showing an increase of 2.44% in 24 hours. It is the first time that the leading crypto has been bullish following ongoing selling pressure in two months.
A recent arcane research data also remarked that BTC’s supply on exchanges has been decreasing gradually, hitting levels last seen in 2018. Until active BTC hoarding stops, BTC’s price might keep going up.
While the fear & greed index rose slightly to 24 points, it remains in the extreme fear region. A recent Coinmarketcap data shows that the entire crypto market gained 1.65% overnight and is now valued at $1.81 trillion. The bitcoin dominance index increased by 0.3% and now stands at 41.6%.