Cryptocurrency wallets for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and XRP have seen significant growth in the last two years, according to a report by Santiment. Despite this growth, these top cryptocurrencies have experienced price declines in the past week following comments from the federal reserves. Bitcoin saw an 8.1% decline, Ethereum fell by 15.7%, XRP saw a 7.8% pullback in the past seven days and a 2.3% decline in the past 24 hours.
Ethereum has led the way in wallet growth, with a 47% increase over the last two years, totaling 134.93 million wallets. Santiment’s analysis also reveals a rise in long-term holders, known as Hodlers, who hold assets for over a year. Additionally, mid-term holders, or Cruisers, grew by 0.97%, while short-term traders saw a 21.78% increase.
XRP wallets have seen parabolic growth over the past two years, increasing by 28% to reach 5.75 million wallets. This growth coincides with XRP’s price action and development activity, with notable spikes in activity pushing development metrics to 25.57 as of the report.
Bitcoin wallet holders have also seen an increase, reaching 54.66 million, a 27% rise over two years. Santiment’s analysis also shows a 4.1% 24-hour rise in exchange inflows for Bitcoin, suggesting increased market activity in the shorter term. A report by The Crypto Basic also notes that whales took advantage of price dips to create 342 new wallets holding over 100 BTC during a flash crash.
Tether wallets have experienced the highest percentage growth among the top four assets, with a 66% increase to reach 6.57 million wallets. This growth in Tether wallets indicates a growing interest in stablecoins among investors. Overall, the growth in crypto wallets for these top assets highlights the increasing adoption and interest in cryptocurrencies among investors, despite recent price declines in the market.
