Discover how Bitcoin is attracting a wave of investors while altcoins like Dogecoin and Cardano are seeing a slowdown in growth.
Bitcoin Investors on the Rise, Altcoins Stall
Recent data from on-chain analytics firm Santiment reveals a significant increase in the number of Bitcoin investors. The “Total Amount of Holders” metric tracks addresses with non-zero balances on the network, signaling growth.
This rise could be attributed to fresh adoption, returning investors, or increased privacy measures. Net adoption is a positive sign for blockchain platforms in the long term.
Check out the graph below to see how Bitcoin, Ethereum, XRP, Cardano, Dogecoin, and Chainlink are faring in terms of investor numbers:
Source: Santiment on Twitter
While Dogecoin’s holder numbers peaked early in 2024, the growth has since tapered off. Bitcoin, on the other hand, has seen a recent uptrend in investor numbers.
As markets experience bearish trends, investors may be flocking back to Bitcoin from altcoins, leading to a rise in its user base.
Despite fluctuations, DOGE’s holders have increased by 13.8% in the last three months, with BTC showing a 2.6% growth.
Keep an eye on the market dynamics as Bitcoin continues to hover around $63,000.
Source: TradingView
Stay informed, stay ahead. Invest wisely.
