July 24, 2024
Latest News

Ethereum Reaches Another Milestone In Adoption

Ethereum price
Image by WorldSpectrum from Pixabay

Ethereum has reached another significant milestone. According to data provided by Glassnode, the number of Ethereum addresses that hold at least 0.1 ETH has now reached a new all-time high of 3.2 mln.

Incidentally, it could be noted here that Ethereum consumed less than a day’s time to break its record of previous-high. It also depicts a clear link between he number of Ethereum wallets that hold at least 0.1 ETH and the asset’s price performance.

Meanwhile, in the record the most significant growth came in the 2017 bull run. After plateauing during a prolonged crypto winter, it is now once again on the rise as ETH is changing hands slightly below the $400 level. 

This month also recorded a high for Ethereum as the number of ETH address in profit had surpassed the number of total Bitcoin addresses — 32.88 mln and 31.02 mln, respectively.

Ethereum has become a front-and-center player in the decentralized finance ecosystem, which explains this rapidly growing activity. 

“The Ethereum community can’t figure out what the total outstanding supply of the asset is. This is a MAJOR problem and showcases why ETH is not good money,” Morgan Creek Digital’s Anthony Pompliano said.