Bitcoin, which had a good start to 2025 and exceeded $100,000 in the past days, later experienced sharp declines.
While the BTC price has fallen to the $91,000 level, Santiment said the largest cryptocurrency is seeing a surge in new wallets in early 2025.
On-chain analytics platform Santiment said in a post on its X account that the number of new wallets in leading cryptocurrencies by market value has increased significantly since the beginning of 2025.
Accordingly, Ethereum (ETH) saw the biggest increase with 645,000 new wallets, followed by Bitcoin with 102,000 wallets.
BTC and ETH were followed by XRP with 58,000 wallets, Dogecoin (DOGE) with 29,000 wallets and Cardano (ADA) with 2.8 thousand wallets.
While BTC, ETH, XRP, DOGE and ADA experienced an increase in the number of wallets, Chainlink (LINK) lost 3.3 thousand wallets.
Santiment said that the pace of wallet growth is often seen as a reflection of community sentiment, and that the growth in the number of wallets indicates that investors have long-term confidence in Bitcoin and these altcoins.
An increase in the number of wallets can be interpreted as a bullish signal, while a decrease can indicate a short-term correction and FUD indicating a buying opportunity.
📊 As 2025 has kicked off with roller coastering prices for crypto's top assets, the amount of hodlers have fluctuated wildly since the new year:
🪙 Bitcoin $BTC: +102K Wallets
🪙Ethereum $ETH: +645K Wallets
🪙XRP Ledger $XRP: +58K Wallets
🪙Cardano $ADA: +2.8K Wallets… pic.twitter.com/W07x43GgW4— Santiment (@santimentfeed) January 10, 2025
*This is not investment advice.
