According to Santiment, an on-chain analytics platform, there has been a rise in bitcoin wallet addresses after the international conflict between Russia and Ukraine in late February.
In addition, the data platform also revealed that over 1,629 BTC whale addresses have risen to millionaire status, and this is the first time that some of these wallets are achieving this height. On the other hand, others are regaining their millionaire status. For a crypto wallet address to become a BTC whale, it must have between 10,000 and 100,000 BTC.
Santiment also released another data showing that the majority of the altcoins are down by 10% and 20% in the past seven and thirty days, respectively. However, some of the top 100 digit coins experienced gains on 27 April 2022, with some hitting double digits.
These gains are rare given the nature of the events in the crypto market. However, some of the digital assets and the gains they made are GMT (12%), CVX (12%), and LDO (10%).
Bitcoin experiences a market boom of 2.44% in 24 hours
BTC dipped below $38,000 and was bullish on Wednesday, which led to a steady rise to $39,400 on Thursday morning, increasing by 2.44% in 24 hours. It is the first time the leading crypto has been bullish following the pressure to sell in recent months.
Furthermore, recent data also stated that BTC’s exchange supply has been depleting slowly, reaching the lows last witnessed in 2018. However, BTC’s prices might continue to rise until active BTC hoarding stops.