Ethereum addresses with a balance have reached a new high of more than 100 million.
The number of addresses on the Ethereum (ETH) network with a balance has recently reached an all-time high of 104,076,868, indicating that these addresses now contain at least one wei, the smallest unit of ETH, a huge increase over prior years.
The data comes from cryptocurrency analytics startup Glassnode and demonstrates how Ethereum’s popularity has grown in recent years, thanks in part to the rise of the decentralized finance (DeFi) industry and its ecosystem.
In comparison, the number of Bitcoin non-zero addresses, or addresses with at least one satoshi, has lately risen to roughly 48 million, which is less than half the number of Ethereum addresses with a balance. While the Ether cryptocurrency has lately stabilized around $1,830, there has been a noticeable increase in the number of Ethereum non-zero addresses in recent times. According to market statistics, these addresses numbered approximately 20 million in 2019, growing to roughly 50 million by early 2021, right on the edge of a bullish surge that drove Ethereum to an unprecedented price of nearly $4,900.
According to Glassnode data, approximately 4.3 million ETH, out of the total 120 million circulations, last saw activity between seven and 10 years ago. This extended dormancy reflects long-term faith and potentially strategic holding practices among investors.
In a broader sense, Bitcoin, the pioneering digital money, isn’t far behind in terms of dormant holdings either. According to Glassnode’s most recent data, 5.67 million BTC have remained unclaimed since at least 2017. Given the overall circulating Bitcoin supply of 19.45 million, this means that nearly 30% of the currency is in a long-term holding phase. PayPal, a dominating power in the digital payments sphere, recently announced the creation of a stablecoin named Payal USD (PYUSD) on top of its network, demonstrating PayPal’s intention to further infiltrate the developing world of Web3 and digital-centric payments.
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