Ethereum Hits Major Crypto Adoption Milestone, Says IntoTheBlock
Crypto analytics firm IntoTheBlock has announced that Ethereum (ETH) has achieved a significant milestone for crypto adoption. According to the firm, Ethereum has officially surpassed 100 million addresses with a balance.
In July, fellow crypto analytics firm Glassnode reported that there were over 100,000 non-zero ETH addresses. However, IntoTheBlock states that it excluded “dust” addresses with balances lower than 0.00001 ETH in its calculations.
Ethereum’s Current Status
As of now, ETH is trading at $1,569. The second-largest cryptocurrency by market cap has experienced a decline of over 67% from its all-time high of more than $4,800 in November 2021.
Additionally, IntoTheBlock reveals that Ethereum is currently averaging around 961,000 daily transactions, which is a decrease of 36% from its peak level of 1.51 million.
Bitcoin Comparison
In comparison to Ethereum, Bitcoin (BTC) is recording approximately 273,000 average daily transactions. This represents a 53% decrease from its all-time high level of 586,000.
However, IntoTheBlock notes that Bitcoin has an average holding time of 4.2 years, which is twice as long as Ethereum’s average holding time.
At present, BTC is valued at $28,680. The leading cryptocurrency by market cap has seen a decline of over 58% from its all-time high of more than $69,000 in November 2021.
Hot Take: Ethereum Achieves Major Milestone for Adoption
Ethereum’s achievement of surpassing 100 million addresses with a balance marks a significant milestone for crypto adoption. This demonstrates the growing popularity and usage of the Ethereum network. Despite recent price declines and decreased transaction levels, Ethereum remains a dominant force in the crypto space. Additionally, Bitcoin’s longer average holding time compared to Ethereum suggests that Bitcoin holders have a stronger belief in the long-term value and potential of the digital asset. Overall, the continued growth and adoption of both Ethereum and Bitcoin indicate a promising future for cryptocurrencies.
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