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Bitcoin Number of Millionaire Addresses Grown Steadily In Past Two Months – Santiment

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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.

 

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%).

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%.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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