Gadgets Africa
  • News
    Microsoft introduces ads to Bing AI chatbot

    Microsoft introduces ads to Bing AI chatbot

    Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.

    Meta considers ban on political ads

    Twitter unveils prices for API access

    Twitter unveils prices for API access

    Microsoft raises Bing AI chat limit to 200 daily

    Microsoft raises Bing AI chat limit to 200 daily

    Instagram introduces bookmarking feature

    Instagram introduces bookmarking feature

    Hackers target UAE users with Spanish spyware - Google

    Hackers target UAE users with Spanish spyware – Google

    EFCC detains tech firm Kloud Commerce's founder Olumide Olusanya

    EFCC detains tech firm Kloud Commerce’s founder Olumide Olusanya

    Google to launch extreme heat alerts feature

    Google to launch extreme heat alerts feature

    Musk, experts call for pause on AI development

    Musk, experts call for pause on AI development

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Bitcoin-made millionaires fall by 20% in 2022

by Agency Report
May 30, 2022
in Cryptocurrency
Reading Time: 1 min read
Sanctions may cripple Russia’s multibillion-dollar crypto industry – Experts
Share on FacebookShare on TwitterShare on Telegram

As a direct result of the downward pressure that has been witnessed in the cryptocurrency market, which has resulted in a loss of almost one trillion dollars in market cap since the beginning of the year, the number of Bitcoin addresses that hold one million dollars or more in value has also decreased.

Newsnow.co.uk, reported that data acquired by Finbold indicates that as of May 28, 202, the number of addresses with a BTC balance of more than $1m was 77,936, according to BitInfoCharts.com statistics.

Approximately 5,856 of the addresses had a combined balance of approximately $10m. The remaining 72,080 addresses have a balance of $1m apiece or more.

When employing a web archive tool Wayback Machine, it was determined that the number of addresses BTC with over $1 million worth of Bitcoin are down since pretty much the start of the year by 21.34%, with 99,092 addresses recorded on January 5.

Notably, the number of Bitcoin millionaires has decreased dramatically since the start of January, but if we take the date further back to October 2021, when Bitcoin was around its peak, the drop is more remarkable.

Indeed, on October 28, 2021, when 116,139 addresses were declared Bitcoin millionaires it would indicate a 32.89 per cent fall in seven months.

A combination of factors such as regulatory scrutiny, turbulent markets, geopolitical unrest, and interest hikes continue to have an adverse effect on the asset’s performance.

Nevertheless, some analysts still believe the value of Bitcoin will continue to rise; a senior analyst at Deutsche Bank Research, Marion Laboure, stated:

Currently, the price of Bitcoin is trading at $28,804, down 0.69 per cent in the last 24 hours and 1.68 per cent across the previous week, according to data from CoinMarketCap.

Tags: Bitcoin millionaires
ADVERTISEMENT

Related Posts

US judge rules on FTX founder's bail conditions Friday
Cryptocurrency

US judge rules on FTX founder’s bail conditions Friday

by Joy Onuorah
March 10, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Crypto shares slump after Silvergate crash

by Joy Onuorah
March 9, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Illicit crypto transactions hit $20b in 2022

by Joy Onuorah
January 22, 2023
FTX's Bankman-Fried faces new indictment of bribing Chinese officials
Cryptocurrency

I didn’t steal FTX funds – Bankman-Fried

by Joy Onuorah
January 12, 2023
Next Post
Digital commerce to add $180bn to Africa’s GDP – Report

Fintech firm partners school to boost financial education

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

TikTok launches ‘Sounds for Business’ marketers

TikTok launches ‘Sounds for Business’ marketers

February 28, 2023
Hackers breach Reddit, access employees info

Hackers breach Reddit, access employees info

February 10, 2023

Trending.

ChatGPT records 100M users in January

ChatGPT records 100M users in January

February 2, 2023
Ford unveils €45,000 Explorer electric vehicle

Ford unveils €45,000 Explorer electric vehicle

March 21, 2023
IG, Facebook posts make buying decisions for 77% Nigerians - Report

IG, Facebook posts make buying decisions for 77% Nigerians – Report

February 22, 2023
Elon Musk to launch paid verification for Twitter

Elon Musk’s Starlink launches in Kenya

January 17, 2023
Get your NIN ready to board trains, NRC tells passengers

Get your NIN ready to board trains, NRC tells passengers

April 14, 2022
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version