Bitcoin’s on-chain pulse stays eerily quiet compared to the 2021 frenzy 🌑 1.12 million active addresses danced daily back then alongside nearly 489,000 fresh wallets popping up.
Today those numbers sit around 624,000 active addresses and 278,000 new wallets each day, down roughly 44% and 43% from the peak according to Santiment.
Fewer Wallets, Fewer Transactions
Active addresses show how many unique souls are actually moving coins while network growth counts brand new wallets tasting Bitcoin for the first time. Santiment shared that fewer new participants are joining and daily transactions feel lighter than during the retail frenzy five years ago.
This dip hits even while BTC price lingers far above 2021 levels for most of this cycle. Spot Bitcoin ETFs and institutional vehicles let big players gain exposure without touching the chain or spinning up wallets, which Santiment sees as one subtle reason. Long-term holders have also grown passive, preferring to hoard rather than transact often, leaving the network valuable yet less lively than the 2021 retail surge. The slowdown isn’t automatically bearish though.
Attention Returns Despite Weak Activity
Broader crypto chatter has started creeping back up. May saw discussions around Bitcoin climb about 24% from April levels. Santiment noted this shows traders eyeing fresh opportunities even as capital stays picky and real participation lags.
Meanwhile attention drifts toward traditional equities too. Tech, AI, semiconductor and defense stocks have pulled some eyes away while stock and ETF talk spreads inside crypto circles. Regulatory whispers stayed hot with optimism around the CLARITY Act building through May yet delays turned that hope sour by the end.
Strategy’s 32 BTC sale, its first ever reported move, stirred whispers about the “never sell” stance shifting. The action looks tied to preferred stock duties instead, and the firm still stacks 843,706 BTC.
Just another echo from the void by iconofsin.eth 💖
