Seema Lemings CbBi

I love seeing how different things are trending in different countries.
Just checking North America as an example: In the USA right now it's @MoonbeamNetwork who's in pole position, while in Mexico, Columbia, Argentina and Venezuela @Pepecoin is firmly in front. Brazil have their eyes on @SPACE ID the universal digital ID solution, and Canada's looking at @Pyth Network

This Bitcoin Bull Run Is Breeding Millionaire Whales at Slower Pace, Data Show.

The ongoing bitcoin (BTC) bull run is characterized by Wall Street’s embrace of the long-awaited spot exchange-traded funds (ETFs). Still, the rally is producing “millionaires," however, at a slower rate than the 2020-2021 uptrend.

The leading cryptocurrency by market value has risen 70% this year, setting new record highs above $72,000. The rally follows the past year’s 155% surge from the depths of a brutal bear market.

According to data tracked by Paris-based Kaiko, less than 2,000 millionaires, or wallets with $1 million worth of bitcoin, are created daily. That’s significantly lower than the last bull run, which bred over 4,000 millionaire wallets per day and over 2,000 wallets with a $10 million balance per day.

The slower pace might mean the bull run is still in the early stages, and the pace of inflows is yet to peak. The conclusion is consistent with market consensus that prices could rise to $150,000 and higher in the coming months due to continued inflows into the spot ETFs and the impending halving-induced supply reduction.

“This [slower growth rate of millionaires] could be due to a few things: (1) New capital has yet to arrive in full force. (2) Large whales are taking profit as BTC hits new highs. (3) Whales are storing their holdings with custodians, rather than personal wallets,” Kaiko said in the weekly newsletter.

Recently, the gap between the liquidity on the ask and bid sides of the order book within 2% of the market price has widened to nearly five times as usual, hinting at a buildup of limit orders on the sell side – a sign of investors looking to take profit near record highs.

WHAT IS AEVO?
Aevo is a decentralized exchange that offers derivatives products such as crypto options and futures contracts. The Aevo DEX operates on a custom layer 2 blockchain that's built using Optimism's OP Stack technology. This allows it to offer much lower transaction fees than DEXes which operate on the Ethereum mainnet.

Bitcoin (BTC)
Market cap: $1.4 trillion
Created in 2009 by Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.

Bitcoin’s price has skyrocketed as it’s become a household name. In May 2016, you could buy one Bitcoin for about $500. As of Mar. 5, 2024, a single Bitcoin’s price was around $68,719. That’s a growth of 13,644%.