According to a report from CoinDesk, despite the recent sharp increase in the price of Bitcoin, the growth rate of Bitcoin whale wallets on-chain is still lower than during the peak of the bull market in 2021.
Data tracked by cryptocurrency data provider Kaiko shows that the daily number of new Bitcoin millionaire wallets (addresses holding $1 million worth of Bitcoin) is still below 2,000. During the previous bull market peak, over 4,000 millionaire wallets and over 2,000 wallets holding $10 million worth of Bitcoin were created daily.
The slower increase in Bitcoin millionaire wallets may indicate that this bull market is still in its early stages, with capital inflows yet to reach their peak, or that investors are taking profits during the high price period. Kaiko stated in the report:
Source:
Kaiko