Bitcoin’s price has barely moved in the last week, but other signs point to growing activity on the network. On June 5, Bitcoin traded around $104,300, down 0.50% in 24 hours and off 2.5% over the past seven days. Yet data shows more people are joining the network, and more coins are being passed around.
Wallet Creation Jump
According to Santiment, on May 29 nearly 557,000 new wallets appeared. That was the highest number since December 2023. It means thousands of people are opening wallets even though price has stayed just under $105,000.
People normally open new wallets to send and receive bitcoins but they somehow come across the idea through new sources, increased talks among friends or create simple curiosity. In any case, an increased wallet holding indeed indicates a much wider usage.
Bitcoin’s on-chain activity has seen sharp rises this week as its price hovers just below $105K:
May 29th: 556,830 new $BTC wallets created (Highest since December 2, 2023)
Jun
We współpracy z: https://www.newsbtc.com/news/bitcoin/bitcoin-network-activity-is-booming-despite-a-quiet-market-data/
