The post Bitcoin Wallet Addresses Holding Over $100 Reach Nearly 30 Million Amid Surging Interest and Institutional Adoption appeared on BitcoinEthereumNews.com.

The cryptocurrency landscape continues to evolve, as Bitcoin wallet addresses holding at least $100 have surged by 25%, now approaching 30 million. This increase highlights a robust influx of retail and institutional investors entering the market, marking a significant moment in the crypto adoption curve. “The rise in wallet counts points to a burgeoning market sentiment, where both retail and institutional players are increasingly confident in Bitcoin’s potential,” stated Binance in their latest report. This article examines the recent growth in Bitcoin wallet addresses and highlights the record hashrate and profit amongst holders, signaling strong market sentiment. Record Bitcoin Wallet Growth Indicates Strong Market Participation The latest data reveals a significant milestone in the cryptocurrency market: Bitcoin wallets holding at least $100 have surged to nearly 30 million, reflecting a year-on-year increase of 25% according to Binance. This trend suggests an influx of new participants, indicating heightened interest in Bitcoin. The increase in wallets holding $100 or more can be attributed to various factors, including the ongoing appeal of Bitcoin as a digital asset and recent price movements. Historically, such growth in wallet counts has coincided with bull runs, most notably in late 2017 and 2021. The recent surge has also been fueled by Bitcoin’s recent performance, which saw it surpass the $100,000 mark in mid-2024. Impact of Institutional Interest on Bitcoin Adoption Integral to this trend has been the burgeoning institutional interest, particularly following the approval of spot Bitcoin ETFs. The BlackRock iShares Bitcoin Trust (IBIT) has been at the forefront of this shift, accumulating over $50 billion in assets by the end of 2024. This has resulted in ETF holdings doubling to over 1.25 million BTC, reflecting a significant sea change in market dynamics. As institutions gain confidence in Bitcoin, the narrative around cryptocurrency is shifting from one…

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Filed under: News - @ January 26, 2025 11:12 am