Recent data analysis by Santiment illustrates a significant increase in cryptocurrency holders over the past two years, culminating in December 2024.
Increase in Active Users
According to Santiment data, the number of active Bitcoin ($BTC) wallets rose by 27%, totaling 54.7 million. Ethereum ($ETH) saw the most substantial growth rate of 47%, bringing the count to 134.9 million wallets. Tether ($USDT) experienced a 66% rise, amounting to 6.57 million wallets, while XRP ($XRP) recorded a 28% increase, reaching 5.75 million wallets. This trend signifies broader acceptance and integration of cryptocurrencies among investors.
Impact of Bitcoin Price Volatility on Wallet Activity
Santiment’s study further highlights how Bitcoin price volatility affects wallet activity. There is a noted 32% increase in wallet operations when Bitcoin prices drop by 20%. This pattern suggests that investors might be capitalizing on price dips to accumulate more Bitcoin, reflecting their long-term confidence in its value.
NFT Market and Ethereum Wallet Activity
The rising interest in Non-Fungible Tokens (NFTs) positively impacts Ethereum wallet activity. As NFT prices surge, the activity in Ethereum wallets skyrocketed by 178% over the same period. This indicates that the burgeoning NFT market is driving increased usage of Ethereum, showcasing the interconnected nature of different cryptocurrency sectors.
Data analysis highlights the significant expansion in cryptocurrency adoption leading to increased popularity of major tokens. Despite volatility, long-term investments continue to pay off.
