Kaiko: About 1,500 'Million Dollar Wallets' Were Created Every Day During Bitcoin's Rally

Cryptocurrency analytics firm Kaiko Research says it appears that about 1,500 new "million-dollar wallets" are being created every day during Bitcoin's current record-breaking rally. These wallets are digital addresses on the Bitcoin blockchain that users use to store cryptocurrency. Because the network is open to the public and not controlled by any centralized intermediary, data such as the number of tokens held in each wallet is available to outsiders. Since the launch of the U.S. Bitcoin ETF in January of this year, demand has been extremely strong, and the year-to-date price of Bitcoin has soared by roughly 70 percent. Even so, the number of new million-dollar wallets per day is still lower than the previous bull market in 2021, when more than 4,000 wallets crossed the million-dollar threshold every day. The highest number of days so far this year was March 1 at 1,691 wallets.