The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin (BTC) Outperforming S&P 500 on Crypto Market Rally As Blockchain Wallets Top 48 Million

by Daily Hodl Staff
April 29, 2020
in Trading

Bitcoin is now outperforming the S&P 500 for the first time since the market crash in March and the equities sell-off that started in February. In a big 24-hour move, BTC crossed $8,000 and is currently trading at $8,592, up 10.5% at time of writing. The S&P 500 is up 2.9% at 2,946.

Bitcoin has reversed its March 12th drop and is now trading above the pre-plunge level. The bullish price action suggests BTC is building momentum as the upcoming halving approaches on May 12th, which will trigger a reduced production rate of new Bitcoin.

[the_ad id="93550"]

Year-to-date, Bitcoin is up 11% compared to the S&P 500, down -23%, and the Dow Jones Industrial Average, down -16%.

As the crypto markets rally with all of the top 15 coins posting gains, analyst The Moon tells his 30,000 followers on Twitter that he expects Bitcoin to reach $9,000 within the next six hours. However, the overall sentiment for the market is still marked by fear, according to the Crypto Fear & Greed Index by data tracker Alternative.me.

The index currently stands at 26, slightly more fearful than yesterday’s 27, but significantly more greedy than last month’s extreme fear sentiment of 14 and last week’s 20.

While traders try to gauge Bitcoin’s next move, the network continues to generate more unique wallets.

The total number of blockchain wallets has surpassed 48 million, up from 36.5 million year-over-year.

[the_ad id="95413"]

The number of blockchain wallets reached its first million in 2014. Data tracker Bloqport reports that at the current rate of new wallets there will be a total of one billion blockchain wallets by 2026.

Source: Blockchain.com

Despite Bitcoin’s hallmark volatility, Bitcoin core contributor Danny Scott notes that the world’s largest cryptocurrency by market cap, with a dominance of 64.3%, is consistently increasing the number of addresses that hold 0.1 BTC or more.

2010: 30k
2011: 60k
2012: 155k
2013: 220k
2014: 460k
2015: 690k
2016: 1.2 million
2017: 1.5 million
2018: 2.4 million
2019: 2.5 million
2020: 2.8 million

Now: 3.0 million

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.


Featured Image: Shutterstock/IM_VISUALS

Submit a Press Release

Industry Announcements

  • Threshold Network’s tBTC Is Now Live on Sui – Ushering In a New Era for Bitcoin DeFi
    July 9, 2025
  • LILPEPE Enters Fifth Presale Phase Following Rapid Sell-Out of Stage Four
    July 9, 2025
  • MultiBank Group Announces Early Access Waitlist for Pioneering MBG Token
    July 9, 2025
  • Status Unveils First Gasless Layer-Two on Linea With 100% Community Yield Allocation Mechanism
    July 9, 2025
  • NEXBRIDGE and NEXPLACE Raise $8 Million Series A To Launch Integrated Bitcoin Capital Markets Ecosystem
    July 9, 2025
  • Little Pepe Becomes the Hottest Meme Coin of 2025 After Raising Over $4.5 Million in Presale
    July 9, 2025
  • G-Knot Appoints Fintech, Crypto Veteran Wes Kaplan as CEO To Launch the First Finger Vein Biometric Wallet
    July 8, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$111,115.77
$111,115.77
2.17%
Ethereum
$2,745.67
$2,745.67
5.35%
BNB
$667.75
$667.75
1.4%
Solana
$157.07
$157.07
4.39%
XRP
$2.40
$2.40
4.15%

Spotlight

  • Rich Dad Poor Dad Author Buys More Bitcoin, Touts $1,000,000 BTC Price Prediction
    July 2, 2025
  • Scammers Drain $20,000 From Billion-Dollar Bank Customer Who Took Out Loan for Business Purposes: Report
    July 2, 2025
  • Markets Will Choose US-Regulated Stablecoins Over CBDCs ‘All Day, Every Day,’ Says Treasury Secretary Scott Bessent
    July 2, 2025
  • Trader Issues Bitcoin Warning, Says Only ‘Small Sliver’ of Time Left in Bull Market – Here’s His Timeline
    July 2, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl