FX168 Financial News Agency (North America) According to encryption analysis company Kaiko Research, Bitcoin’s surge appears to be creating approximately 1,500 new “millionaire wallets” every day. #SpotBitcoinETF#

These wallets are digital addresses on the Bitcoin blockchain where users can store cryptocurrency. Since the network is public and not controlled by any central intermediary, data like the number of tokens held by a wallet is accessible. However, these addresses are anonymous, making it difficult to distinguish whether they are controlled by an individual or entity.

The original cryptocurrency had already surged about 70% earlier this year, driven largely by surging demand for U.S. exchange-traded funds that could hold the coins, which were first allowed in January. Still, the number of new millionaire wallets created every day is growing at a lower rate than the previous bull run in 2021, when more than 4,000 wallets hit the million dollar mark every day. The high this year was 1,691 wallets on March 1.

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(Image source: Kaiko Research)

Kaiko said in a report on Monday that the slower growth may be due to several reasons: new capital has not yet fully poured in; large so-called whales are profiting as Bitcoin reaches new highs; whales are moving their holdings There are deposits in escrow institutions rather than personal wallets.

“In 2021, capital inflows surged as various bull markets sought to profit from the cryptocurrency boom,” the report said. “This time around, whales may have taken a more cautious approach, waiting to see those gains. Is it solid and then invest.”