Early 2025 sees significant movements in the cryptocurrency market, particularly for Bitcoin and Ethereum, leading to an increase in new wallets.
Start of 2025 for Bitcoin and Ethereum
Bitcoin exceeded $100,000 early in 2025 but eventually dropped to $91,000. At the same time, Ethereum exhibited positive momentum.
Analysis from Santiment
According to Santiment, there has been a significant increase in new cryptocurrency wallets since the start of 2025. Ethereum leads with 645,000 new wallets, followed by Bitcoin with 102,000. Following them are XRP with 58,000, Dogecoin with 29,000, and Cardano with 2.8 thousand new wallets. Chainlink, however, lost 3,300 wallets. Santiment highlights that the growth in wallet numbers reflects investor confidence in long-term prospects.
Market Reaction and Long-Term View
The increase in cryptocurrency wallets might indicate a bullish trend on the horizon, while any reduction might suggest an upcoming correction and potential buying opportunities for investors.
The sharp rise in wallet numbers, especially surrounding leading cryptocurrencies, demonstrates investor interest, suggesting a possible positive market shift in the long run.