BlockBeats News, August 9th, Santiment Intelligence published a post stating that Bitcoin has just experienced a surge in on-chain transaction volume. The network saw a total of 2.27 million new addresses created, marking the highest number in the past year, while the number of active addresses reached 751,000, hitting a 10-month high. The major catalyst was the chaos triggered by the Coldcard wallet incident. The security crisis forced users to move funds, create new wallets, rotate custody settings, and reevaluate risk exposure, naturally leading to a significant increase in wallet creation and activity.

Polarizing events often trigger the strongest on-chain reactions in both Bitcoin and altcoins. Fear spreads rapidly, followed closely by greed. Both emotions drive more trading, position adjustments, and close monitoring of market dynamics, reigniting demand after a period of market downturn. When retail investors are shaken and transaction volumes surge, Bitcoin's large holders typically take advantage of this chaotic situation to increase their holdings more actively. This combination of increased usage and accumulation by large holders has historically had a positive effect on prices in the following weeks or even months.