In a notable development, the past year has witnessed a remarkable 32% surge in the number of wallets holding Bitcoin (BTC), reaching an impressive 52.6 million. This growth has undoubtedly fueled the bullish momentum for the pioneer cryptocurrency. Despite a mild 2.94% increase in the past seven days, BTC stands firm at $43,535.34 with a market cap exceeding $852 billion. The 24-hour trading volume amounts to $21.77 billion, reflecting a substantial 33.88% dominance in the market. The Bitcoin community is poised for potential further expansion, considering the robust growth in wallet adoption over the last year.
In a recent tweet by crypto analytic firm, Santimentfeed unveils staggering growth in crypto wallets for $BTC, $ETH, $XRP, $ADA, $DOGE, and $LINK:
Contrary to Bitcoin’s positive trajectory, Ethereum (ETH) has faced a slight setback in the past week, witnessing a 3.81% decline. Nevertheless, Ethereum continues to showcase strength in wallet adoption, with an impressive 54% growth, totaling 112.1 million wallets holding more than 0 coins. Despite the dip in weekly performance, ETH maintains its position as the second-largest cryptocurrency, with a market cap of $263.48 billion. The 24-hour trading volume is noteworthy at $8.02 billion, indicating an active and engaged user base.
Ripple’s native cryptocurrency, XRP, has experienced a 26% increase in wallets with more than 0 coins in the past year, totaling 4.9 million. However, the coin has faced a recent decline of 8.64% in the last seven days, reflecting market fluctuations. Despite this, XRP maintains its position as the sixth-largest cryptocurrency with a market cap of $30.30 billion. Notably, the 24-hour trading volume has surged by an impressive 104.75%, reaching $1.62 billion, suggesting increased activity within the XRP community.
Cardano (ADA) emerges as a strong contender, showcasing a remarkable 38% growth in the number of wallets holding more than 0 coins in the past year, totaling 4.5 million. ADA has experienced a substantial 19.04% surge in the last week, positioning itself as one of the top performers. Despite this recent spike, ADA’s market cap has seen a marginal decrease of 8.21%, settling at $17.06 billion. The 24-hour trading volume stands at $542.58 million, indicating sustained interest and activity within the Cardano ecosystem.
Despite being initially conceived as a meme coin, Dogecoin (DOGE) continues to exhibit resilience in the market. The past year has seen a 22% increase in wallets holding more than 0 coins, reaching 5.7 million. However, DOGE has experienced a notable 13.88% dip in the last seven days. The market cap stands at $10.97 billion, with a 24-hour trading volume of $546.65 million. The DOGE community remains active, suggesting that despite short-term fluctuations, the coin maintains a loyal following.
Chainlink (LINK) rounds up the list with a respectable 11% growth in the number of wallets holding more than 0 coins in the past year, totaling 711.3 thousand. Despite a 12.25% dip in the past week, LINK‘s market cap remains substantial at $7.47 billion. The 24-hour trading volume stands at $404.29 million, with a volume/market cap ratio of 7.28%, suggesting a resilient and engaged user base within the Chainlink community.
In conclusion, the surge in the number of wallets for these major cryptocurrencies underscores the growing interest and adoption within the crypto space. Despite short-term price fluctuations, the overall trend in wallet growth signals a positive trajectory for the broader market. As the crypto landscape continues to evolve, monitoring wallet adoption provides valuable insights into the health and vitality of each coin’s community and user base.
