Recent data indicate growing popularity of Bitcoin, reflected in increasing wallet numbers and record hashrate levels. These factors highlight retail and institutional investors' interest in the cryptocurrency.
Increase in Wallets and Market Optimism
According to Binance, the number of Bitcoin wallets holding $100 or more is nearing a historic high, showing a 25% annual increase in popularity. This trend often coincides with Bitcoin bull runs, notable in 2017, 2021, and mid-2024. The rise in Bitcoin's value correlates with institutional investor interest that began after regulators authorized spot Bitcoin ETFs led by IBIT from BlackRock. By late 2024, Bitcoin ETF ownership reached 1.25 million BTC.
Bitcoin Hashrate Hits Record Highs
Similar to the growth in wallet numbers, Bitcoin mining levels have also reached new heights. On January 26, 2025, the hashrate reached 775,742,508.805 TH/s, while Bitcoin’s price stood at $103,752.666. The hashrate subsequently surpassed 800 million TH/s, underscoring increased security and stability as the network achieved record highs in computing power and valuations.
Dominance of Large Holders
Data from CryptoQuant shows that 86% of Bitcoin holders are currently in profit. Accumulator addresses, which consistently acquire Bitcoin without selling, are adding Bitcoin at a monthly record pace of 495,000 BTC. CryptoQuant’s CEO Ki Young Ju noted contrasting behaviors among holders: while retail investors with less than 1 BTC are selling, larger holders are increasing their positions.
The growth in wallet numbers and escalating hashrate highlight an increasing interest in Bitcoin, demonstrating both network stability and market optimism.
