More and more bitcoin millionaires. Growth of over 230% in 2023

Bitcoin had another good week, growing 5,6%. within seven days. The cryptocurrency's value rose at the beginning of the week, reaching $37 on eToro before falling slightly. However, the price has held steady in the latter part of the week and is now around $440, up from $36 a week ago. Bitcoin is currently up 600%. in the last 34 months.

Ethereum however, it had a better week than bitcoin, growing nearly 7,8%. within seven days. It started last week at around $1880 but rose to above $2100 on Thursday for the first time since May 2022. The cryptocurrency's value has dropped slightly, but is still trading above $2000. Within 12 months, the price of the cryptocurrency increased by over 67%.

In turn, Solana recorded good weekly results, with the price increasing by 42%. The sharp increase in its value comes after strong demand in the futures market and a strong increase in demand for DeFi.

Next week

Though speculation on commits ETF bitcoins are holding up and money is flowing into the market the only noteworthy event that awaits us this week is the latest US inflation data, which will be released on Tuesday.

As the market expects further interest rate increases, many investors are currently watching the United States and the global economy for signs of a slowdown. Lower-than-expected inflation could confirm this view, but persistent price increases will remind investors of the central bank's "higher for longer" messages.

The UK will also report inflation figures this week (Wednesday), although they tend to lag behind the US, making them a less useful barometer for the market to follow. On Tuesday, we will also learn GDP numbers in the EU for the third quarter.

HSBC will offer tokenized margin

Major global financial institution HSBC intends to offer digital asset custody services to institutional clients together with Swiss partner Metaco. The custody service will launch in 2024 and will operate in parallel with the bank's digital asset issuance platform called HSBC Orion.

Bitcoin Mining Revenues Peak in 2023

According to data from blockchain.com revenues earned from bitcoin mining will peak in 2023. The increase in revenues is accompanied by a significant increase in prices that the market has witnessed over the last few weeks.

More and more bitcoin millionaires

According to BitInfoCharts data, the number of so-called Bitcoin millionaires increased in 2023. According to the report, the number of wallets holding bitcoins worth over $1 million has increased by 237% this year, with the value of the cryptocurrency being driven mainly by institutional market participants.