Although the prices of major assets such as Bitcoin, XRP, Cardano, and Dogecoin have been bearish, the on-chain activities surrounding these coins suggest a different scenario.

Yesterday, Bitcoin dropped to a low of $91,000 again after trading above $102,000 earlier this week. Similarly, Dogecoin nearly fell below $0.30 after attempting to reach $0.40 four days ago. Cardano (ADA) dropped by $1, and XRP touched $2.20, also showing a similar bearish sentiment.

However, despite the poor performance of these large-cap tokens, the number of non-empty wallets for these assets has been increasing since the New Year. The intelligent platform Santiment shared data on this development on Twitter today.

According to the report, while assets like Ethereum and Bitcoin have seen a surge in wallets, others such as Chainlink are declining.

 

Ethereum (ETH) is the biggest winner, with 645,000 new wallets added since the beginning of the year. This means that the number of ETH holders has increased by 0.5% so far in 2025.

This growth reflects the interest in Ethereum's ecosystem, although the price of Ethereum has dropped by 1.16% since January 1st. Considering that the value of ETH was $3,743 four days ago but is now trading at $3,300, the percentage loss becomes more evident.

Meanwhile, Bitcoin (BTC) has added 102,000 wallets since January 1st. However, unlike Ethereum, the price of Bitcoin has increased by 1.12% year to date, solidifying its position as a more stable asset amidst market volatility.

 

In addition, XRP is more closely linked to Bitcoin and Ethereum, and it has followed with a significant increase in wallet holders. Specifically, in 2025, XRP has registered 58,000 new wallets, representing a 1.0% growth in the number of holders.

The sustained interest in XRP may be due to the hope for favorable regulation and institutional adoption through ETFs this year.

 

At the same time, Cardano (ADA) has only added 2,800 wallets since the start of 2025. This slight 0.1% increase indicates cautious but stable interest in the platform. Despite the price dropping to $0.96, ADA has still increased by 14% year to date.

Similarly, the number of Dogecoin (DOGE) wallets has increased by 29,000, reflecting the enduring appeal of the meme coin among retail investors. Dogecoin is priced at $0.3358, having increased by 7% since the beginning of the year.

 

On the other hand, Chainlink (LINK) has recorded a loss of 3,300 wallets, marking a 0.5% decrease in its holder base. According to Santiment, this decline may indicate growing FUD (fear, uncertainty, and doubt) around the project.

However, contrarian investors may see this decline as a buying opportunity, betting on a rebound once market sentiment stabilizes. For context, LINK has dropped by 11% in the past 30 days, while its year-to-date gain is 1.2%.