The Bitcoin ecosystem continues to grow and break new records. On-chain data shows that the number of wallets holding at least $100 worth of Bitcoin is approaching an all-time high. At the same time, Bitcoin mining power also reached a record high.
Number of Bitcoin Wallets Is Rapidly Increasing
BTC ownership is expanding day by day. According to data shared by Binance, the number of wallets containing $100 or more Bitcoin was 24 million at the beginning of 2024, and approached 30 million by 2025. That’s a 25% growth in just one year.
This increase indicates that new participants have entered the market and investor interest has been renewed. Similar wallet increases were seen before in the 2017 and 2021 bull markets. The same scenario happened again in 2024 when Bitcoin exceeded $100,000. The following words were included in the Binance blog:
This trend indicates a revival of interest in Bitcoin and new investors entering the market.
ETFs and Institutional Demand Boost Bitcoin
Institutional investment in Bitcoin is increasing. Interest in spot Bitcoin ETFs at the end of 2024 was one of the factors determining the direction of the market. Led by big names like BlackRock’s iShares Bitcoin Trust (IBIT), ETFs totaled 1.25 million BTC. IBIT has become one of the largest BTC funds, amassing over $50 billion in assets.
The increased interest in Bitcoin by ETFs has accelerated the entry of especially large investors into the market. According to Binance’s analysis, institutional investors now view Bitcoin not just as an asset but as a long-term store of value.
Bitcoin Mining Power is at its Peak
The Bitcoin network is improving its security day by day. At the beginning of 2025, Bitcoin’s total mining power (hashrate) reached an all-time high, exceeding 800 exahash/sec (EH/s). There was a 33% increase in one year.
While the increase in hashrate increases network security, it is also considered an indicator of miners’ trust in Bitcoin. Binance shared the following comment on the subject:
Bitcoin’s hashrate has become larger than even the combined processing power of Amazon AWS, Google Cloud, and Microsoft Azure.
Bitcoin Investors are in Profit: Latest Situation in the Market
The rise in BTC price made most investors profit. According to data from CryptoQuant, 86% of Bitcoin in circulation is currently in profit. CryptoQuant CEO Ki Young Ju pointed out the difference in investor behavior and said:
While individual investors who own Bitcoin are selling, those who hold 1 BTC or more continue to buy. This indicates that the market is currently in the late stages of its bull cycle.
While usually large investors (whales) sell their Bitcoins to individual investors at the end of the rally, a different scenario occurs in this cycle. While long-term investors and institutional investors hold Bitcoin through ETFs, new individual investors are entering the market. The final distribution phase, dominated by retail investors, could last until mid-2025, according to analysts.
