A new milestone in the crypto space was reached when the number of addresses holding Ethereum hit an all-time high of over 51.4 million before the end of a turbulent 2020.
Number of addresses with ETH reaches a new all-time high
According to data from the data website Glassnode, there are now 51,491,730 addresses that contain the aforementioned cryptocurrency, as it continues to rise in connection with a price increase for most cryptos in the last few weeks of 2020.
The number is significant when you consider that there were only 34.7 million addresses with Ethereum (ETH) at the start of the year, a 48% increase over current numbers. The previous Ethereum’s ATH was set at 51,487,512 addresses, which contain the second largest crypto by market capitalization.
On the last day of the year, at press time, Markets.Bitcoin.com shows that ETH exchanges hands at $ 739.63, up 0.63% on the day, with a market cap of $ 84,363,317,420.4 .
The price increase of Ethereum during the year is also due to the decentralization frenzy (Defi) that was observed in 2020 amid the coronavirus pandemic. ETH is also used in most Defi apps, which increases the number of addresses with the cryptocurrency.
On December 12, 2020, the number of ETH addresses other than zero reached 50,476,989, which shows an upward trend that has remained stable over the year. The number of Ethereum addresses is still higher than that of their counterparts.
Latest developments in space of Ethereum
The Chicago Mercantile Exchange (CME) announced on December 16, 2020 that CME Group is expanding the company’s crypto derivatives and plans to broadly launch Ethereum futures amid a growing trend of the second most popular crypto.
Also, news.Bitcoin.com reported on a report published by Coin Metrics on September 30, 2020 on how Defi is fueling Ethereum’s growth, stating that the cumulative ETH fees in 2020 far exceeded Bitcoin fees since high gas prices are becoming the new norm. “
What do you think of this increasing number of addresses with ETH? Let us know in the comments below.
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