The number of Ethereum addresses has reached a new record. There are now 71,364,788 addresses with Ethereum, the second largest crypto currency by market capitalization, according to blockchain data site glass node.
The popularity of NFTs
On December 30 last year, that number also reached a new record of approximately 51,491,730. It has since risen by 38%. At the time, this record was attributed to a healthy market, boosted by institutional investors and the rise of DeFi.
📈 #Ethereum $ETH Number of Non-Zero Addresses just reached an ATH of 71,364,788
View metric:https://t.co/beS1MtIgAZ pic.twitter.com/Ocpwnmf1Pt
— glassnode alerts (@glassnodealerts) Dec 29, 2021
The NFT market is likely to play a big role this time around. NFTs, blockchain-based tokens that can be anything, have become hugely popular this year as they have become more mainstream, especially in the art world. NFT is a phenomenon that probably attracted extra attention not only to Ethereum, but also to the rest of the crypto world.
Most NFTs are minted on the Ethereum blockchain. However, other blockchains such as Solana are catching up. To buy and sell NFTs, you need an Ethereum address or wallet.
Matt Aaron, project lead at UniWhales DAO, which builds a DeFi analytics data tools, said the following:
“NFTs have been instrumental in adding new wallets and users to the Ethereum ecosystem. For much of the year, OpenSea transactions took more gas than any other dApp.”
The number of Ethereum addresses has grown steadily since 2017. The number of Bitcoin addresses has both increased and decreased over the years. However, it was recently announced that nearly one million Bitcoin addresses were created in November of this year. With this, the Bitcoin network has also seen a huge increase in addresses. Do you want to know more about this? Click here to go to the relevant article.