Ethereum

Token

Bitcoin

Spot

<p>According to a recent tweet by <strong><a href="https://twitter.com/santimentfeed/status/1760363169544024438?s=20" target="_blank" rel="noopener noreferrer nofollow">Santiment</a></strong>, the number of Bitcoin wallets holding more than 0 BTC has dropped by 729.4K over the past month. After the SEC approved 11 Spot Bitcoin ETFs, by January 20th, the amount of non-zero Bitcoin wallets peaked at 52.95M.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="667" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-1024x667.png" alt="" class="wp-image-441839" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-1024x667.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-300x195.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-768x500.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-1536x1000.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-2048x1333.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-230x150.png 230w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-336x220.png 336w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-538x350.png 538w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798-788x513.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-798.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: <strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p>
<p><strong>Reasons for the Drop in Bitcoin Holders</strong></p>
<p>This drop in Bitcoin holders is attributed to increased interest in hodlers getting exposure to Bitcoin through ETFs instead of holding it directly. The SEC’s approval of Bitcoin ETFs in January 2024 from issuers like BlackRock and Fidelity has allowed investors to gain access to Bitcoin without needing to hold it in a wallet.</p>
<p>Meanwhile, Ethereum and Tether have hit all-time highs in their number of holders. Ethereum now has 114.95M holders, while Tether has 5.22M.</p>
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<p><strong>Implications for Other Cryptocurrencies</strong></p>
<p>The data shows that for any future cryptocurrency that has ETFs approved, there would likely be an implied drop in active wallets on their respective network as investors switch to getting exposure through ETFs rather than direct ownership.</p>
<p>So while Bitcoin’s number of holders has stagnated due to the rise in ETFs, Ethereum and Tether continue setting records – showcasing the diverging trends across top cryptocurrencies.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoins-btc-amount-of-holders-stays-flat-while-ethereum-and-tether-reach-all-time-highs/" rel="noopener noreferrer nofollow">Bitcoin’s (BTC) Amount of Holders Stays Flat, While Ethereum and Tether Reach All-Time Highs</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin’s (BTC) Amount of Holders Stays Flat, While Ethereum and Tether Reach All-Time Highs

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