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Analysts calculate how many users become bitcoin millionaires every day

2:50 pm, March 12, 2024

According to Kaiko Research, a company specializing in cryptocurrency analytics, the growth of BTC $76,455.67 Bitcoin 1.20% Market capitalization $1.51 trillion VOL. 24 hours $3.51 billion is «generating» approximately 1,500 new cryptocurrency millionaires every day.

Since the blockchain is transparent and decentralized, anyone can see how many tokens each wallet contains. The names of wallet holders remain hidden, so it is not known whether they are individuals or organizations.

Bitcoin has been experiencing a surge in value, fueled by the enthusiasm around exchange-traded funds (ETFs). However, the rate of creation of new millionaire wallets is not as high as during the bull run of 2021. At that time, more than 4,000 wallets crossed the million-dollar threshold every day. The peak in 2024 was on March 1, with 1,691 new millionaire wallets.

According to a report by Kaiko Research, several factors can explain this slow growth. There is a possibility that a significant amount of capital has not yet fully entered the market. It is also possible that large bitcoin holders, often referred to as whales, are locking in their profits when bitcoin reaches new heights. Another reason could be that these whales have chosen to store their bitcoins in custodial services rather than in personal wallets.

The report states: «2021 saw huge capital inflows as bulls sought to capitalize on the cryptocurrency hype. This time around, the whales may be more cautious, waiting to see if the gains are sustainable before investing.»

As a reminder, the flagship cryptocurrency has reached an all-time high of $ 72,000 after a record week of inflows into cryptocurrency exchange products. In just the last 30 days, bitcoin has risen in price by more than 50%, and its capitalization has exceeded $ 1.38 trillion. The cryptocurrency market as a whole also continues to grow rapidly.

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