Kaiko: The number of new million-dollar Bitcoin wallets added daily has risen to 1,500, but it is still far below the previous bull market

ChainCatcher message, according to a report released by Kaiko Research on March 11, shows that the number of new million-dollar Bitcoin wallets added daily in January was below 500, but with the rise in Bitcoin prices, it has now increased to about 1500, still far below the last bull market.

When Bitcoin reached its all-time high of $69,000 on November 10, 2021, there were over 4000 wallets crossing the million-dollar threshold daily, with another 2000 wallets reaching the $10 million mark daily. The current daily addition of Bitcoin millionaires is similar to the figures when Bitcoin plummeted below $20,000 in July 2022.

Kaiko attributes the "slow recovery" of daily new Bitcoin millionaire wallets to the fact that new capital has not yet been "fully" deployed, and there may also be more whales storing their assets with custodians rather than in personal wallets.