Bitcoin Advocates Urge Elon Musk to Integrate BTC Payments on X, but Dogecoin Seems Superior to Bitcoin
Bitcoin advocates push Musk for BTC payments on X; Musk favors Dogecoin for its lower fees and scalability.
ZeZhengLog in/ Sign up
Bitcoin's Historic Surge: Why Aren't Millionaire Wallets Keeping Up?
Follow
Bitcoin Hits New All-Time High While "Millionaire" Wallet Growth Lags
Bitcoin has reached an all-time high (ATH), soaring to $72,200 amidst its recent rally, yet the emergence of new 'millionaire' wallets lags significantly behind previous records. Despite the remarkable price surge, the return of on-chain Bitcoin whales remains sluggish.
The number of newly created Bitcoin millionaire wallets has increased to around 1500 per day
The number of new daily Bitcoin millionaire wallets has increased to approximately 1,500 following the recent rally, according to Kaiko Research. However, this figure pales in comparison to the staggering numbers witnessed during the last bull run. In fact, the current influx of new millionaires resembles the statistics from July 2022, when Bitcoin plummeted below $20,000.
Cautious Investor Behavior Slows Return of Bitcoin Millionaire Wallets Amidst Lackluster Capital Influx
Kaiko attributes the slow return of new daily Bitcoin millionaire wallets to cautious investor behavior. The influx of capital witnessed in 2021 during the crypto hype seems to be missing this time around. Whales may be adopting a more prudent approach, awaiting confirmation of sustainable gains before committing significant investments.
Spot Bitcoin ETFs Attract Over $28 Billion as Custodians Divert Whale Holdings to Institutional Services
The introduction of spot Bitcoin exchange-traded funds (ETFs) could also be influencing the dynamics. Nine new spot Bitcoin ETFs in the United States have amassed over $28 billion worth of Bitcoin since their launch in January. Custodians like Coinbase and BitGo play crucial roles in managing these ETFs, potentially diverting whales from personal wallets to custodial services.
Indirect Bitcoin Ownership via ETFs Alters Perception of Whale Wallet Data Analysis
Investors in spot Bitcoin ETFs hold shares in the ETFs rather than owning Bitcoin directly. Consequently, their indirect Bitcoin holdings do not reflect in the whale wallet data, skewing the analysis of Bitcoin ownership dynamics.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveHQ
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Related News
- ZeZheng
Unmasking the Shadows: How Cryptocurrency Fuels Terrorism
Following the deadly attack in Israel by Palestinian militant group Hamas, it has put cryptocurrency’s role in terrorist financing back in the spotlight. The U.S. Treasury Department recently announced its investigation on the $165 million in cryptocurrency which the agency believed to have helped Hamas before the militant group’s Oct 7 attack against Israel.
Coinlive Bullish Outlook from BitMEX Co-Founder Arthur Hayes: Bitcoin and Altcoins on the Radar!
Arthur Hayes criticizes G7 central banks, advocates for continued investment in Bitcoin and altcoins. Predicts potential rally fueled by FED's dollar-yen maneuvers and anticipates rate cuts. Encourages long positions, sees cryptocurrency market poised for resurgence.
Xu LinBitcoin's Meteoric Rise: Record-Breaking Streak Spurs Heightened Expectations and Investor Appetite
As anticipation mounts for US Non-Farm Employment data, Bitcoin breaks records with $37B in futures open positions. Positive sentiment prevails as long positions dominate, driving expectations for new all-time highs.
Xu LinBitcoin Whales Accumulate Aggressively: Is a Price Surge Imminent?
Bitcoin surges above $71K as long-term investors and whales accumulate. Institutional interest via spot ETFs and new whales drive demand. Ethereum also sees increased investor interest.
EdmundBitcoin to Hit $350K this August: Will Bitcoin Lover Robert Kiyosaki’s Prediction Crash & Burn Again?
'Rich Dad Poor Dad' author Robert Kiyosaki predicts Bitcoin will hit $350K by late August 2024, driven by his distrust of US leadership. Will this forecast crash and burn like some of his previous speculations?
KikyoBitcoin Rises as ECB Reduces Interest Rates
Bitcoin saw a slight increase in response to the ECB's rate cut. The ECB reduced rates to moderate monetary policy restriction, addressing inflation but not growth stagnation. The rate cut aims to lower borrowing costs in the euro area.
Xu LinBitcoin Whales Increase Holdings, Now Control Over 40% of Supply
Bitcoin whales, owning over 40% of total BTC supply, continue accumulating, influencing market dynamics. Their buying spree amid high derivative positions indicates potential volatility ahead, despite current positive sentiment reflected in BTC's price.
Huang BoBitcoin Long-Term Hodlers Now in Profit as BTC Crosses $71K
Bitcoin's surge to $71,000 brings all long-term hodlers into profit, but short-term holders face unrealized losses amid market speculation and regulatory uncertainties.
Xu LinBitcoin (BTC) Surpasses $71,000: Key Factors Behind the Surge
BTC surpasses $71,000 on 5-day uptrend amid Fed rate cut speculations. Boosted by ETFs, regulatory clarity, and Nasdaq 100 correlation.
Xu Lin
More news about ビットコイン 富豪
More news about ビットコイン 富豪
MicroStrategy founder Mike Saylor’s path to the world’s richest man
Thanks to its founder Mike Saylor's aggressive currency hoarding strategy, from 2020 to 2024, as of March 12, MicroStrategy has hoarded 205,000 BTC, with an average cost of 33,706 BTC, or 72k BTC. Calculated, the floating profit exceeds 7.8 billion U.S. dollars.
JinseFinanceBitcoin – a means of redistributing wealth
If a large percentage of transhumanists could achieve financial independence, amazing things would happen.
JinseFinanceThe $100 million dream of getting rich in crypto is 7 times more courageous than the former richest man Wang Jianlin
Once the dream of getting rich is ignited in your heart, the more likely outcome is that you become so anxious that you sacrifice your own capital for others to achieve the goal of 100 million dollars.
JinseFinanceWealth cryptography in Bitcoin Layer 2
This article compares Bitcoin L2 to L1 and discusses some of the most promising Bitcoin L2 projects. Additionally, this article discusses interesting entrepreneurial opportunities related to Bitcoin L2.
JinseFinanceInvestment Tragedy in 2008: Snowball Accumulated Massacred Mainland Rich People in His Past Life
Investment, 50 years of investment failure in 2008: Snowball’s previous life Accumulate massacred the mainland’s wealthy people Golden Finance, there is no old money, it’s all new money.
JinseFinanceChinese Billionaire's Alleged Fraud Scheme Unravels
Chinese billionaire Ho Wan Kwok faces RICO charges, with his cryptocurrency venture embroiled in a multimillion-dollar fraud and money laundering scandal.
EdmundBitcoin's Potential to Challenge Elon Musk's Wealth
In the hypothetical scenario of Bitcoin surpassing a million dollars, Elon Musk might lose his position as the world's richest person, with MicroStrategy CEO Michael Saylor entering the billionaire ranks due to his substantial Bitcoin investment. The required seven-figure Bitcoin price is approximately $1,054,000 per coin, contingent on various factors and potentially impacting global financial systems significantly.
Cheng YuanMexican Billionaire Ricardo Salinas Advocates for Bitcoin
Ricardo Salinas advocates for Bitcoin as an inflation-resistant alternative to conventional banks.
Hui Xin"Millionaire Godfather" Robert Kiyosaki: Centralized institutions are not trustworthy Decentralized business is coming
I don't trust our leaders, the Fed, the Treasury, or the stock market. —Robert Kiyosaki
Ftftx15 Crypto Leaders Named to Forbes 30 Under 30 List
Forbes named 15 of its latest 30 business leaders under 30, including OpenSea co-founder Alex Atallah and Alamada Research co-CEOs Caroline Ellison and Sam Trabucco.
Cointelegraph