According to Glassnode, a cryptocurrency on-chain analytics company, the number of non-zero Ethereum addresses has reached an all-time high (ATH).
According to Glassnode, the number of Ethereum addresses with a non-zero balance has reached an all-time high of 84,381,102.
Ethereum’s Widespread Adoption
Surprisingly, people’s trust in the crypto asset has grown, resulting in widespread adoption. Unsurprisingly, the number of Ethereum addresses with non-zero balances has reached an all-time high.
Ethereum is a crypto project with a lot of utility that developers have widely adopted. Developers believe that the Ethereum network is ideal for projects such as decentralized finance (DeFi), non-fungible tokens (NFTs), and play-to-earn (P2E) games.
Transaction fees in ETH are typically charged to users of these Ethereum-based cryptocurrency projects. This will eventually position the coin for a rally as adoption soars.
Investors are aware of Ethereum’s potential, which has resulted in massive purchases of the asset class as they prepare for a rally.
Related article: Ethereum Co-Founder Says Crypto Will Rise Again After Decline
ETH Price Movement
Ethereum showed investors what it was capable of last year when its price reached an all-time high of $4,878.
Unfortunately, the value of ETH has fallen by 69 percent from its peak. Ethereum was trading at $1,521 at the time of writing.
Santiment, a crypto analytics firm that tracks market data for over 2,000 digital currencies, commented on ETH’s recent price movement, saying:
“#Ethereum had an up and down Sunday, jumping above $1,640 before dipping back down to $1,540. The trading crowd continues to not believe the hype, and is expecting prices to fall heading into the #FOMC meeting. $ETH should continue to stay volatile.”
Meanwhile, ETH adoption has skyrocketed in recent months. The number of addresses holding at least one ETH reached a new all-time high over the weekend.