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#On-Chain Activity

Over One Million Wallets Now Hold at Least 1 Bitcoin.

The 'King of Crypto' (yes, I'm talking about Bitcoin, not Ethereum, and definitely not Dogecoin... sorry, Elon) just hit a major on-chain milestone!

According to Glassnode, over one million wallet addresses are now hoarding at least 1 whole Bitcoin. This bullish sentiment is like an energy drink for the crypto market because we all know the 'Alt coins' party doesn’t start until Bitcoin walks in.

This impressive rally was undoubtedly stoked by the FTX collapse, followed by the 'not your keys, not your tokens' craze, which swept through the crypto world as only bad FUD can.

According to Glassnode, the number of wallets with 1 or more BTC has swelled by 20% since February 2022. Remember, this was during one of the coldest crypto winters we've ever shivered through. Impressive!

Another interesting fact, according to Glassnode, is that the new kid on the block, BRC-20 (which made its grand entrance in March 2023), has not had much of an impact. Only 30,000 new wallets clutching one Bitcoin were added since the BRC-20 token standard's grand debut.

Let us raise our glasses…

Here is to the ever-surprising King Bitcoin.

Long Live the King! Show Less

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