Crypto Networks Witness Significant Growth In The First Week Of 2024

As the new year unfolds, analytics reports from Santiment shed light on the remarkable growth observed across various crypto networks in the initial week of 2024, building upon the momentum of a prosperous 2023.

The number of wallets holding >0 coins for key cryptocurrencies showcased substantial expansion:

  • Bitcoin ($BTC): 52.6 million wallets, reflecting a noteworthy 32% growth over the past year.
  • Ethereum ($ETH): 112.1 million wallets, demonstrating an impressive 54% growth over the past year.
  • Ripple ($XRP): 4.9 million wallets, exhibiting a solid 26% growth over the past year.
  • Cardano ($ADA): 4.5 million wallets, showcasing a robust 38% growth over the past year.
  • Dogecoin ($DOGE): 5.7 million wallets, marking a substantial 22% growth over the past year.
  • Chainlink ($LINK): 711.3K wallets, indicating a commendable 11% growth over the past year.

$151M Inflows In The First Week Of 2024

In a separate finding, the inflows into digital asset investment products achieved an impressive US$151 million in the initial week of 2024. 

Bitcoin, with US$113 million in inflows, stood out as the leader, constituting 3.2% of Assets under Management (AuM) in the preceding nine weeks. Conversely, short-bitcoin products experienced withdrawals of US$1 million within the first week of the year.

These statistics underscore the continued interest and participation in the crypto space, with growing wallet numbers indicating an expanding user base. 

The substantial inflows into digital asset investment products further emphasize the ongoing confidence and investment influx into the cryptocurrency market, particularly with Bitcoin maintaining its position as a significant driver of these trends.

As the crypto landscape evolves, these metrics provide valuable insights into the industry’s dynamics and investor sentiment in the early stages of 2024.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: strelok/123RF // Image Effects by Colorcinch

Via: https://themerkle.com

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