Bitcoin Blasts Past $104K as 344K Wallets Suddenly Join the Network

By: coin central|2025/05/09 17:30:02

TLDRBitcoin added over 344,000 new wallets on May 8, marking the highest single-day growth in 2025.The price of Bitcoin surged from under $94,000 to over $104,000 between May 6 and May 9.On-chain activity increased as new addresses rose 8.13% and active addresses grew 8.79% in a week.Over $343 million in derivatives positions were liquidated in 24 hours, with the majority coming from short positions.Bitcoin’s market capitalization reached $2.040 trillion, briefly surpassing Amazon in global asset rankings.Bitcoin (BTC) price surged sharply between May 6 and May 9, 2025, crossing $104,000 after consolidating earlier this month. Bitcoin added over 344,000 new wallets daily during this period, indicating increased retail activity. Market data confirms that on-chain growth and derivatives activity fueled this breakout.Bitcoin Hits $104K Amid Wallet BoomBitcoin registered 344,620 new wallets on May 8, the highest daily growth for 2025 so far. This figure surpassed April’s previous peak, reflecting increased user activity during price acceleration. Wallet creation began rising steadily on May 4 as Bitcoin rebounded from the sub-$94,000 range.Before the current price recovery started, daily wallet creation numbers dropped below 272,000. Since then, metrics have continued rising, marking sustained interest in the asset. The latest surge aligned directly with Bitcoin’s move through the $103,000 threshold.New wallets usually point to broader retail participation, especially during bullish momentum. BTC maintained its upward trajectory as inactive users began re-engaging with the network. This trend highlights a growing wave of new participants funding wallets amid the price climb.On-Chain Data Confirms Widening ActivityAccording to data from Santiment and other platforms, Bitcoin’s network showed clear signs of rising engagement across multiple metrics. New addresses increased by 8.13% over the past week, while active addresses jumped 8.79%. Additionally, zero balance addresses became active and surged by 11.35%. Bitcoin's network saw 344,620 new wallets be created on its network as FOMO poured in. Crypto's top market cap asset has silenced bears, reaching a high of $103.8K for the first time since January. pic.twitter.com/hai245lQJz— Santiment (@santimentfeed) May 9, 2025These figures indicate that Bitcoin’s recent growth has not been limited to price action alone. User activity on-chain has expanded, suggesting fresh capital entering the ecosystem. The rally created favorable conditions that drew inactive participants back into circulation.Bitcoin Daily Active Addresses | IntoTheBlockBitcoin’s network strength has historically correlated with broader market expansion during periods of price momentum. With new and reactivated users contributing, the growth pattern remains consistent. Such activity supports the argument for a durable retail-driven rally.Derivatives Market Faces Heavy Short LiquidationsBitcoin’s price rally triggered significant short liquidations across derivatives markets, reinforcing the strength of upward pressure. Over $343.99 million in positions were liquidated within 24 hours, with $320.96 million from short positions. Long positions accounted for $23.04 million in liquidations.Within 12 hours, $184.90 million of shorts were closed, signaling a classic short squeeze scenario. Traders betting against Bitcoin were forced to buy back, further amplifying the price move. This market reaction underlined the sudden and forceful price shift.As Bitcoin moved past $104,000, market cap comparisons revealed it surpassed Amazon, reaching $2.040 trillion.Bitcoin has overtaken Amazon’s market cap $BTC is now the 5th most valuable asset on the planet What’s next?#BTC #Bitcoin #Crypto pic.twitter.com/8KTJ7pEBkA— SoSoValue (@SoSoValueCrypto) May 9, 2025Bitcoin ranks fifth globally by asset value, following NVIDIA, Apple, Microsoft, and Gold.The post Bitcoin Blasts Past $104K as 344K Wallets Suddenly Join the Network appeared first on CoinCentral.

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BeatSwap is evolving towards a full-stack Web3 infrastructure, covering the entire lifecycle of IP rights.

The core product "Space" is scheduled to launch in Q2 2026, driven by SocialFi

BeatSwap, a global Web3 Intellectual Property (IP) infrastructure project, is attempting to overcome the current fragmentation limitations of the Web3 ecosystem, building a full-stack system that covers the entire lifecycle of IP rights.

Currently, most Web3 projects are still in the stage of functional fragmentation, often focusing only on a single aspect, such as IP asset tokenization, transaction functionality, or a simple incentive model. This structural dispersion has become a key bottleneck hindering the industry's scale application.

BeatSwap's approach is more integrated, integrating multiple core modules into the same system, including:

· IP authentication and on-chain registration

· Authorization-based revenue sharing mechanism

· User-engagement-driven incentive system

· Transaction and liquidity infrastructure

Through the above integration, the platform builds an end-to-end closed-loop path, allowing IP rights to complete a full cycle of "creation, use, and monetization" within the same ecosystem.

Expanding from Web3 to a broader market: Restructuring the music industry's supply-demand structure

BeatSwap is not limited to existing crypto users but is attempting to take the global music industry as a starting point, actively creating new market demand. Its core strategies include:

Exploring and incubating music creators (Artist discovery)

Building a fan community

Igniting IP-centric content consumption demand

The current global music industry is valued at around $260 billion, with over 2 billion digital music users. This means that the potential market corresponding to the tokenization and financialization of IP far exceeds the traditional crypto user base.

In this context, BeatSwap positions itself at the intersection of "real-world content demand" and "on-chain infrastructure," attempting to bridge the structural gap between content production and financial flow.

"Space" to Launch in Q2 2026: Building the Core of SocialFi

BeatSwap's upcoming core product "Space" is scheduled to launch in the second quarter of 2026. This product is defined as the SocialFi layer in the ecosystem, aiming to directly connect creators with users and achieve deep integration with other platform modules.

Key designs include:

A fan-centric interactive mechanism

Exposure and distribution logic based on $BTX staking

User paths connected to DeFi and liquidity structures

Thus, a complete user behavior loop is formed within the platform: Discovery → Participation → Consumption → Rewards → Trading

$BTX Token Mechanism: Evolving from an Incentive Tool to a Value Carrier

$BTX is designed to be a core utility asset within the ecosystem, rather than just a simple incentive token, with its value directly tied to platform activity and IP use cases.

Main features include:

· Yield distribution based on on-chain authorized actions

· Value reflection based on IP usage and user engagement dynamics

· Support for staking and DeFi participation mechanisms

· Value growth driven by ecosystem expansion

With the increased frequency of IP use, the utility and value support of $BTX will enhance simultaneously, helping alleviate the "disconnect between value and utility" issue present in traditional Web3 token models to some extent.

Accelerating Global Exchange Layout: Enhancing Liquidity and Accessibility

Currently, $BTX has been listed on several mainstream exchanges, including:

Binance Alpha

Gate

MEXC

OKX Boost

As the launch of "Space" approaches, BeatSwap is actively pursuing more exchange listings to further enhance liquidity and global accessibility, laying a foundation for future market expansion.

Beyond Web3: Aiming for a Larger-Scale Integration of Content and Finance Markets

BeatSwap's goal is no longer limited to the traditional Web3 narrative but aims to target over 2 billion digital music users and a trillion KRW-scale content market.

By integrating content creators, users, capital, and liquidity into a blockchain framework centered around IP rights, BeatSwap is striving to build a next-generation infrastructure focused on "IP tokenization."

Conclusion

BeatSwap integrates IP authentication, authorization distribution, incentive mechanism, transaction system, and market construction to establish a unified structure that bridges the full lifecycle path of IP rights.

With the launch of the Q2 2026 "Space," the project is expected to become a key infrastructure connecting content and finance in the IP-RWA (Real World Assets) track.