Ethereum Wallet Growth Goes Parabolic, Outpaces Other Top Coins

On-chain data shows the Ethereum network has gone parabolic relative to other major blockchains in terms of growth in non-empty addresses.

Now, here is the chart shared by Santiment that shows how the Total Amount Of Holders has changed for eight major digital assets, including Bitcoin, Ethereum, and XRP:

As displayed in the above graph, all of these cryptocurrencies have enjoyed growth in the total number of Holders over the last ten years, suggesting user bases across the sector have expanded. One network, however, clearly stands out in terms of growth: Ethereum. Despite Bitcoin having been around for much longer, ETH’s adoption has been strong enough that it surpassed the original cryptocurrency in this metric back in 2019.

From the chart, it’s visible that Ethereum didn’t just stop there, either, as its Total Amount of Holders actually accelerated after surpassing BTC. Currently, there are 182.74 million non-empty wallets on the network, the highest ever.

Ethereum’s dominance in users is likely a result of its smart contracts feature that allows it to host a vibrant ecosystem of Decentralized Finance (DeFi) applications and tokens.

Ethereum went down to the low $1,900 levels during its dip over the weekend, but the coin has since bounced back a bit as it’s now trading around the $2,030 mark.