Bitcoin has recorded a significant price boost since the beginning of the year, mainly due to the entry into 2024 running of the bull for this market cycle. This rise in Bitcoin’s price has led to some impressive numbers Bitcoin Millionaire Wallets created every day.
Nearly 2,000 Bitcoin Millionaire wallets created daily
According to data With Kaiko research companyLess than 2,000 Bitcoin millionaire wallets are created every day. Interestingly, this number is still much lower than e.g Running of the Bulls 2021 according to Kaiko, when over 4,000 wallets a day reached $1 million. The research firm also said that during the last bull run, more than 2,000 portfolios reached $10 million a day.
Kaiko has noticed a slowdown in this regard market cycle is likely because the up-to-date capital has not yet entered the market in full force. They found that out too massive whales from the previous market cycle will likely continue to gain as Bitcoin reaches up-to-date highs. Additionally, Kaiko stated that whales keep their assets with custodians rather than in personal wallets, which could be another reason for the decline in the number of Bitcoin millionaire wallets.
However, Bitcoin millionaires’ portfolios are expected to grow as this bull market progresses. Cryptocurrency analysts like Rekt Capital To have predicted that the bull market will peak in September or October next year. Factors such as approval Spot Ethereum ETFs are expected to trigger further increases in Bitcoin and altcoin prices.
Moreover, more crypto tokens are expected to have ETFs this cycle, especially with the approval of Ethereum ETFs, which means more capital will flow into the crypto space. Meanwhile, the US elections are also expected to have a positive impact on this bull run with Donald Trump I already confirm his pro-crypto stance.
More crypto millionaires in this bull run with meme coins
This bull run is expected to produce more cryptocurrency millionaires than the previous ones, thanks adoption level this category of crypto tokens is gaining in this market cycle. This has led to an boost in the number of meme coins being created daily, and cryptocurrency investors are making massive profits from trading these coins.
Earlier this year, Bitcoinist reported about meme coin trader Solana who made almost $11 million by investing $1,800 in Dogwifhat (WIF) meme coin. This was another set of Solana meme coin traders reported made $8 million in 24 hours with an initial investment of $6,400.
A data tracker recently appeared on the Bubblemaps chain revealed trader who made $2 million trading the Mother Iggy meme coin (MOTHER), a token created by Australian rapper Iggy Azalea.
Featured image created with Dall.E, chart from Tradingview.com
