IMPORTANT POINTS:
- Ethereum reaches 100 million active addresses: The cryptocurrency surpasses a milestone in adoption, according to analysis by IntoTheBlock.
- Ethereum Daily Transactions Drop 36%: Despite its popularity, daily transactions declined from their all-time high.
- Bitcoin stays in investors’ hands longer: With an average holding of 4.2 years, Bitcoin doubles Ethereum in holder retention time.
IntoTheBlock, a prestigious analysis firm in the cryptocurrency space, has revealed that Ethereum (ETH) has hit a key point in the history of digital currency adoption. According to its data, Ethereum has surpassed 100 million funded addresses. This news comes despite the fact that Glassnode, another renowned analysis firm, previously noted that ETH addresses with a positive balance had already exceeded 100,000 in July.
However, IntoTheBlock stated that it left out of its count those addresses with a balance of less than 0.00001 ETH, since they consider that they should not be taken into account for a metric of this magnitude.
Current Ethereum Market Trends
At the time of analyzing the situation, the value of ETH stands at 1,632. The second-largest coin in terms of market capitalization has seen a sharp decline, falling 67% from its all-time high, which was over 4,800 in November last year. Furthermore, IntoTheBlock reveals that Ethereum’s average daily transactions are around 961,000, which is 36% less than its highest level of 1.51 million.
Comparison with Bitcoin
On the other hand, in the cryptocurrency arena, Bitcoin (BTC) sees about 273,000 daily transactions on average, which represents a 53% drop from its peak of 586,000. But what is even more revealing is that, according to the report, Bitcoin remains in the hands of its owners for an average of 4.2 years. This figure is twice as long as Ethereum, which leads to reflection: “Did you know that the average holding time for Bitcoin is 4.2 years? It is twice as much as in the case of ETH and Doge.”
To conclude, the report reminds us that BTC, the cryptocurrency with the highest market capitalization, has a current value of 30,063, which implies a reduction of 58% compared to its historical maximum of more than 69,000, recorded in November 2021.
