The number of Bitcoin wallets and volume of small transactions continue to rise, highlighting the importance of self-custodial solutions and changing behaviors of crypto holders.
Rise in Bitcoin Wallets
According to Glassnode data, the number of Bitcoin wallets holding over $100 and $1,000 has reached an all-time high, totaling 37 million wallets. This trend is linked with the increase in crypto owners worldwide, with over 200 million known Bitcoin wallets, marking a steady rise in the retail sector.
Role of Small Transactions in Bitcoin Network
In 2024, Bitcoin transactions shifted to a higher baseline. So-called 'shrimp' transactions were 1,000 times more frequent than whale activities. At the peak, these transactions reached 212 million, reflecting a general shift towards more democratic use of Bitcoin in various payments and savings.
Trends in Buying and Holding
Some new Bitcoin wallet owners prefer a 'buy and hold' strategy despite increased whale activity. Notably, small-scale holders often pause their accumulation during BTC price dips, while the rise in active addresses indicates a persistent market trend.
The growth in Bitcoin wallets and small transactions indicates continuous adaptation to cryptocurrencies and rising market confidence. This underscores the significance of self-custodial solutions and points to further system strengthening.
