Ethereum Achieves Remarkable Milestone: 100 Million Non-Zero Addresses

Ethereum Achieves Remarkable Milestone: 100 Million Non-Zero Addresses

The Ethereum network has reached a significant milestone with over 100 million non-zero addresses, as reported by blockchain data and intelligence provider Glassnode. This remarkable achievement underscores the growing adoption and utilization of the cryptocurrency. Even the smallest fraction of Ethereum (ETH), known as wei, is being held across an all-time high of 104,076,868 addresses.

This surge in non-zero addresses comes amidst Ethereum's recent consolidation around the $1,830 mark, signifying sustained interest and participation within the ecosystem. This development follows a broader trend in the cryptocurrency space, with Bitcoin also experiencing a substantial rise in non-zero addresses. In late July, Bitcoin's non-zero addresses reached an all-time high of nearly 48 million, highlighting the ongoing expansion of the user base and investor participation across multiple cryptocurrencies.

The growth of Ethereum's non-zero addresses has been notable over the past few months, exceeding the noteworthy milestone of 100 million. To provide context, there were approximately 20 million non-zero addresses in 2019, and this number had increased to around 50 million at the beginning of 2021, just before the onset of a significant bull market that propelled Ethereum's price to an all-time high of nearly $4,900.

The sustained increase in non-zero addresses indicates a broader distribution of Ethereum ownership and usage, potentially reflecting a diverse range of participants, including investors, developers, users, and decentralized applications (dApps). This diversity contributes to the network's resilience and its evolving role within the blockchain ecosystem. Furthermore, Glassnode's data reveals another intriguing aspect of Ethereum's supply dynamics. The amount of Ethereum supply that has remained inactive for seven to ten years has reached an all-time high of over 4.3 million ETH. This represents a portion of Ethereum's circulating supply, which currently stands at approximately 120 million. In comparison, similar trends have been observed in the Bitcoin market, where significant amounts of BTC have remained dormant for extended periods.

Glassnode estimated that around 5.67 million BTC have stayed inactive since 2017 or even earlier, comprising almost 30% of Bitcoin's total supply, which is 19.45 million. As the Ethereum network continues to evolve and new use cases emerge, the increasing number of non-zero addresses highlights the diverse and expanding community engaging with the platform. This milestone signifies a step forward in Ethereum's journey towards greater adoption, utility, and influence within the broader digital economy. In conclusion, Ethereum's achievement of surpassing 100 million non-zero addresses is a testament to the platform's growing relevance and impact in the cryptocurrency landscape. The widespread participation across the Ethereum network underscores its potential to shape the future of decentralized technologies and reshape traditional industries.

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