Ethereum Topples Bitcoin By 3x In Major Metric, But Can Price Still Reclaim $5,000?

The data shows that ETH now has about 182.7 million non-empty wallets, compared with roughly 58.5 million for Bitcoin. That places ETH at more than 3.1 times the number of holders held by Bitcoin, and this gap has been widening steadily for years.

The turning point came in February 2019, when Ethereum first surpassed Bitcoin in the total number of addresses holding a balance. Since then, the divergence has increased, with ETH’s wallet growth curving upward while Bitcoin’s line has climbed at a much slower pace.

Tether, despite its ubiquity as the dominant stablecoin, holds just 12.96 million wallets, making Ethereum’s base more than 14 times larger. Interestingly, other notable altcoins also cannot keep up with ETH, where users are actively adding to positions. The number of non-empty wallets on the XRP Ledger sits at 7.68 million, Dogecoin at 8.22 million, and Cardano at 4.61 million. None comes close to Ethereum.

For instance, crypto analyst Merlijn The Trader used the Ethereum Rainbow Chart to predict a notable rally for the leading altcoin. According to the analyst, the Rainbow Chart has entered its cheap zone for the first time since 2020, the same reading that preceded ETH’s run from $700 to $4,800 in 2021.