Ethereum addresses hit 40M, up 350% since its all-time high price

Ethereum wallets
Ethereum is the second-largest cryptocurrency by market cap and now has the most wallets

Ethereum now holds more daily active addresses than Bitcoin, according to Weiss Crypto Ratings

The number of Ethereum wallets holding Ether has spiked over the past two years to hit 40 million, according to crypto data provider Glassnode.

According to the data collected by the company, the number of Ethereum addresses being used has increased by more than 350% and now numbers more than 40 million.

Ethereum addresses hit 40M, up 350% since its all-time high price 1
Graph showing surge in Ethereum addresses holding more than zero balance: Source- Glassnode

Ethereum’s price boom accelerated uptake

The surge in the number of addresses holding the cryptocurrency, the second largest in the crypto space by market cap, has come despite a clear decline in its price.

Coinbase 4

Like Bitcoin’s price rally in 2017, Ethereum also experienced a boom that rode on the momentum it gained through its initial coin offering (ICOs) to hit prices over $1,400. That all-time high was reached in January 2018, before the bearish run that saw cryptocurrencies lose almost 90% of their value in 2018 and early 2019.

Ethereum addresses hit 40M, up 350% since its all-time high price 2
Ethereum’s all-time price charts showing 2017spike and subsequent tanking/ source CoinMarketCap.

Ethereum’s latest struggles are at prices below $210, with the crypto’s value falling over 3% on the day and more than 7% in the past week.

Ethereum traded at lows of $130 on January 1, 2020, and is thus up by almost 50% this time last year. However, compared to its all-time high price in January 2018, Ethereum is more than 85% off that value.

A tanking in price has evidently not hampered nor affected increased interest in Ethereum. As per the address growth data, the number of holders has now reached an all-time high, with those holding balances above zero at more than 40 million.

Weiss Crypto Ratings says that Ethereum has more “addresses with a positive balance in them than Bitcoin.” The platform notes that although Bitcoin’s daily active wallet addresses outnumber XRP by 140 to 1, Ethereum boasts “better user numbers [than Bitcoin] on several key metrics.”

Overall, the rating platform notes that Ripple’s cryptocurrency has continued to fall behind both Bitcoin and Ethereum.

A recent report by Coinbase showed that while most investors buy Bitcoin as their first crypto, a majority go on to purchase altcoins. Most investors use Bitcoin as a gateway to altcoins, including Ethereum in many cases, according to the report.

The interest in Ethereum has also been noted in the number of institutional investors betting on the cryptocurrency. As well as a record number of Ethereum longs seen since February, a major boost was revealed by Grayscale Investments.

According to data, the digital asset management company has bought shares for institutional investors equivalent to almost 50% of all the Ethereum mined 2020. Ethereum miners generated 1,563,245.875 new coins by April 24. Greyscale bought 756,239.777 of these for its investors, at 0.09427052 Ether per share.

Ethereum is moving towards implementation of its Ethereum 2.0 blockchain version, which will see it shift from proof-of-work to proof-of-stake. It is one of the reasons optimism for the cryptocurrency is so high, despite falling prices.

Ethereum addresses hit 40M, up 350% since its all-time high price 3
blank
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

blank

E-Crypto News Executive Interviews


blank

bitcoin
Bitcoin (BTC) $ 37,561.00
ethereum
Ethereum (ETH) $ 2,567.48
tether
Tether (USDT) $ 0.999798
binance-coin
Binance Coin (BNB) $ 325.03
cardano
Cardano (ADA) $ 1.34
xrp
XRP (XRP) $ 0.706905
usd-coin
USD Coin (USDC) $ 0.998596
dogecoin
Dogecoin (DOGE) $ 0.195103
polkadot
Polkadot (DOT) $ 18.16
binance-usd
Binance USD (BUSD) $ 0.991362
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 37,561.00
ethereumEthereum (ETH)
$ 2,567.48
tetherTether (USDT)
$ 0.999798
bitcoin-cashBitcoin Cash (BCH)
$ 525.84
litecoinLitecoin (LTC)
$ 137.13
bitcoinBitcoin (BTC)
31.593,12
ethereumEthereum (ETH)
2.159,55
tetherTether (USDT)
0,840945
bitcoin-cashBitcoin Cash (BCH)
442,29
litecoinLitecoin (LTC)
115,34
bitcoinBitcoin (BTC)
26,960.72
ethereumEthereum (ETH)
1,842.90
tetherTether (USDT)
0.717640
bitcoin-cashBitcoin Cash (BCH)
377.44
litecoinLitecoin (LTC)
98.43

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

blank
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
blank
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021
Crypto Scams On The Rise As Market Enters Bull Cycle
Crypto Scams On The Rise As Market Enters Bull Cycle
December 22, 2020
Harpreet Singh Sahni perpetrated the Plus Gold Union Coin (PGUC) scam
Sydney Concert Promoter Harpreet Sahni Involved In $50M Crypto PGUC Scam
November 2, 2020

Blockchain/Cryptocurrency Questions and Answers

Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021
blank
What Is Plethori Platform And How Does It Work?
June 12, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin37,825 0.55 % 2.89 % 5.51 %
Ethereum2,610.4 0.76 % 0.61 % 13.51 %
Tether1.000 0.30 % 0.46 % 0.52 %
Binance Coin327.18 0.16 % 1.07 % 4.29 %
Cardano1.350 0.11 % 1.09 % 5.33 %
XRP0.7090 0.70 % 1.52 % 2.10 %
USD Coin1.000 0.09 % 0.08 % 0.13 %
Dogecoin0.1964 0.39 % 1.79 % 5.79 %
Polkadot18.33 0.58 % 0.13 % 26.04 %
Binance USD0.9991 0.08 % 1.13 % 0.23 %

bitcoin
Bitcoin (BTC) $ 37,561.00
ethereum
Ethereum (ETH) $ 2,567.48
tether
Tether (USDT) $ 0.999798
binance-coin
Binance Coin (BNB) $ 325.03
cardano
Cardano (ADA) $ 1.34
xrp
XRP (XRP) $ 0.706905
usd-coin
USD Coin (USDC) $ 0.998596
dogecoin
Dogecoin (DOGE) $ 0.195103
polkadot
Polkadot (DOT) $ 18.16
binance-usd
Binance USD (BUSD) $ 0.991362