Recent data shows that there has been a significant decrease in the number of active wallets on cryptocurrency exchanges. In the past few months, there have been fewer than 40,000 wallets active each day on the two major exchanges. This number is even lower than during the bear market when Bitcoin was trading below $10,000, with around 50,000 active wallets daily.
This decline in active wallets is consistent with other indicators, such as the popularity of the Coinbase mobile application and on-chain usage. It suggests a potential shift in investor behavior and sentiment towards cryptocurrencies.
As the cryptocurrency market continues to evolve, it will be interesting to see how these trends develop and what they may indicate for the future of digital assets.
