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Chainalysis: Over 400 Million Crypto Wallets Have Positive Balances

Chainalysis: Over 400 Million Crypto Wallets Have Positive Balances

HappyCoinNewsHappyCoinNews2024/12/08 04:33
By:HappyCoinNews

According to Chainalysis, the number of crypto wallets with a positive balance has already exceeded 400 million. According to the company's analysts, the growth of this figure indicates that digital assets are becoming increasingly popular. Especially against the backdrop of the current bull market.

It is worth noting that wallet addresses do not necessarily equal the number of people using them.

Chainalysis: Over 400 Million Crypto Wallets Have Positive Balances image 0

Number of wallets with non-zero balance

It is clear that we are experiencing a fundamental change in both the perception and use of cryptocurrencies, wrote Chainalysis.

Experts said the rise in popularity during this market cycle was characterized by the “convergence of the digital economy and traditional financial institutions.” This was made possible by the launch of Bitcoin and Ethereum-based exchange-traded funds in 2024.

Chainalysis analysts have noted the dominance of stablecoins in blockchain transactions. According to their report, stablecoins have accounted for 2024% to 50% of all crypto transfers since the beginning of 75.

Chainalysis: Over 400 Million Crypto Wallets Have Positive Balances image 1

Share of stablecoins in transaction volume in 2024

While stablecoins were traditionally viewed as fiat collateral for cryptocurrency markets, this type of asset is now often used as a store of value, especially in emerging economies with high inflation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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