Why Ethereum is Outperforming Bitcoin in Holder Count Growth
Recent data from on-chain analytics firm Santiment reveals that Ethereum has been surpassing Bitcoin in the growth of its total amount of holders. This metric tracks the number of addresses on a network with a non-zero balance, indicating an increase in new investors, reinvestments, or privacy measures. The trend of this metric rising for Ethereum while remaining stagnant for Bitcoin suggests that Ethereum’s adoption is outpacing that of Bitcoin, which could be a positive sign for ETH in the long run.
Ethereum’s Holder Count Rise
– Over the last three months, Ethereum has seen a 3.3% increase in its holder count, adding approximately 4 million new holders to the network.
– In contrast, Bitcoin has experienced a decline in its user base, with 50,000 addresses emptying out in the same period.
– Ethereum now boasts nearly 127 million holders, while Bitcoin has just 54 million, indicating a stark difference in adoption rates between the two cryptocurrencies.
Comparison with Other Cryptocurrencies
– Tether (USDT), the leading stablecoin, has witnessed a rise in its holder count by 230,000 addresses compared to three months ago.
– The increase in Ethereum’s holder count and the stagnation of Bitcoin’s suggests that Ethereum’s ecosystem is attracting new users, contributing to its growth in adoption.
Ethereum Price Movement
– As of the latest update, Ethereum’s price hovers around $2,400, reflecting a decrease of more than 4% in the past 24 hours.
Hot Take: Ethereum’s Growth Indicates Positive Outlook
On-chain data shows Ethereum has notably outpaced Bitcoin in terms of adoption during the last three months. This trend highlights Ethereum’s growing influence in the market, potentially positioning it as a favorable investment opportunity compared to Bitcoin.
Sources:
– Santiment
– Bitcoinist
– Bitcoinist
– Bitcoinist
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