Despite Bearish Price Action, On-Chain Activity Surrounding Bitcoin, XRP, Cardano, and Dogecoin Suggests a Different Story

As the prices of leading assets like Bitcoin, XRP, Cardano, and Dogecoin have been bearish, on-chain activity surrounding these coins suggests a different story.

Yesterday, Bitcoin revisited lows of $91K after trading above $102K earlier this week. Likewise, Dogecoin came close to losing the $0.30 region after attempting to reach $0.40 just four days ago. A similar bearish sentiment is observable with Cardano (ADA), which lost its $1 mark, and XRP, having touched $2.20.

However, despite the bearish performances of these large-cap tokens, the number of non-empty wallets for these assets has been rising since the new year. Intelligence platform Santiment shared data on this development in a tweet today.

According to the report, while assets like Ethereum and Bitcoin surge in wallets, others, such as Chainlink, are experiencing declines.

Ethereum and Bitcoin Top Gainers in Wallets

Ethereum (ETH) stands out as the top gainer, adding 645,000 new wallets since the beginning of the year. This marks a 0.5% rise in ETH holders so far in 2025.

This growth reflects increasing confidence in Ethereum’s ecosystem, even though the price of Ethereum has dipped by 1.16% since January 1. The percentage loss becomes more pronounced when considering that ETH was worth $3,743 four days ago but is now trading at $3,300.

Meanwhile, Bitcoin (BTC) follows with an increase of 102,000 wallets since January 1. However, unlike Ethereum, Bitcoin price has a 1.12% year-to-<_date gain, solidifying its position as a more stable asset amid market fluctuations.

XRP Gains Momentum in Wallets

Furthermore, XRP has aligned itself more closely with Bitcoin and Ethereum, following them with the most significant increase in wallet holders. Specifically, XRP has registered an additional 58,000 new wallets in 2025, reflecting a 1.0% growth in holders.

The continued interest in XRP may be due to hopes for favorable regulation and institutional adoption via an ETF this year.

Cardano and Dogecoin: Slow Growth in Wallets

Meanwhile, Cardano (ADA) has added only 2,800 wallets since the start of 2025. This modest 0.1% increase signals cautious but steady interest in the platform. Despite the dip in price to $0.96, ADA has posted a 14% YTD gain.

Similarly, Dogecoin (DOGE) saw an uptick of 29,000 wallets, reflecting the meme coin’s enduring appeal among retail investors. With its price at $0.3358, Dogecoin has gained 7% since the beginning of the year.

Chainlink Loses Wallets Amid FUD

On the other hand, Chainlink (LINK) recorded a loss of 3,300 wallets, marking a 0.5% decrease in its holder base. This drop may be indicating growing FUD around the project, according to Santiment.

However, contrarian investors might view this decline as a buying opportunity, betting on a rebound once market sentiment stabilizes. For context, LINK has fallen by 11% over the last 30 days, while its YTD gain stands at 1.2%.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.