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Ethereum's Epic Achievement: Non-Zero ETH Addresses Surpass 100 Million

Wed, 05/31/2023 - 15:23
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Gamza Khanzadaev
Main altcoin on market hits historic high as number of non-zero addresses now in triple digits, in millions
Ethereum's Epic Achievement: Non-Zero ETH Addresses Surpass 100 Million
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In a remarkable achievement that highlights the growing prominence of Ethereum (ETH) on the crypto market, the popular blockchain network has achieved a significant milestone by surpassing 100 million non-zero addresses. Data provided by Glassnode indicates that the current count stands at an impressive 100,002,270.

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This achievement comes at a time when Bitcoin is also experiencing a surge in non-zero addresses, reaching an all-time high of 47.27 million. While BTC continues to dominate as the largest cryptocurrency by market capitalization, Ethereum's achievement is particularly noteworthy because it demonstrates a significantly higher number of addresses, further emphasizing the broader reach and appeal of the network.

Undercurrents of Ethereum

In a related observation, it is worth noting that the number of addresses holding 1,000 or more ETH has reached a 10-month low of 6,268. This decline in large holders of Ethereum raises questions about the concentration of wealth within the ecosystem.

Source: Glassnode

While the milestone of 100 million non-zero addresses indicates widespread interest in Ethereum, the decrease in addresses holding significant amounts of ETH suggests that the biggest holders are leaving their holdings right now. The decrease could be attributed to various factors such as profit-taking, portfolio diversification or potential concerns about market volatility.

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Nevertheless, Ethereum's achievement of surpassing 100 million non-zero addresses demonstrates the network's growing adoption and appeal among a diverse range of users. As things stand, Ethereum continues to solidify its position as a leading blockchain platform in the crypto market.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.