The wallets are digital addresses on the Bitcoin blockchain, in which users can store cryptocurrency.
However, the addresses are anonymous, making it hard to distinguish whether they’re controlled by individuals or entities. Even so, the pace of new millionaire wallets being created is lower than during the last bull-market run of 2021, when more than 4,000 wallets were reaching the million-dollar mark daily.The slower pace could be due to a few things. Fresh capital has yet to arrive in full force; large so-called whales are taking profits while Bitcoin hits new highs; whales are storing their holdings with custodians, rather than personal wallets, Kaiko said in a report on Monday.
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