Ethereum Network Now Grows At a Pace of 1.53 Million Addresses per Month

In anticipation for the official launch of Consensus Layer (Ethereum 2.0), there is a massive in increase in the number of active ETH addresses on the Ethereum network.

According to the data provided by the crypto intelligence firm, IntoTheBlock, 70.4 million addresses are currently holding ETH and 18.6 million of these addresses were created in 2021.

Read Also: CryptoPunks Ethereum NFT Sells for 8,000 ETH worth Nearly $24 Million

The firm concluded by stating that the Ethereum network now grows at the pace of 1.53 million addresses per month. A massive growth rate indeed.

IntoTheBlock tweeted, “Ethereum users growth in a nutshell. A good way to track the adoption is by following the number of addresses with a balance. There are 70.4m addresses holding $ETH. Just in 2021, it increased 18.36m. That means the network was growing at a pace of 1.53m addresses per month.”

Number of Ethereum Addresses Holding at least 1 ETH Reaches All-Time High

It’s well known that crypto bag holders have taken the advantage of the recent market dip to increase their Ethereum holdings, as thousands of ETH continue to move from various exchanges to unknown wallets.

Whales are not the only one taking the advantage of the market dip, retail investors are also increasing their ETH holdings.

Read Also: Ubisoft Partners with The Sandbox to Bring Game Franchises into Ethereum-Based Metaverse Game World

Fresh data from the on-chain analytics platform, Glassnode, shows that the number of addresses holding at least 1 ETH has set a new all-time record, a height that indicates the increase in the adoption of the second-largest cryptocurrency by market cap.

Glassnode tweeted, “Ethereum ETH Number of Addresses Holding 1+ Coins just reached an ATH of 1,423,855. Previous ATH of 1,421,792 was observed on 05 February 2022.”

---

Follow us on Twitter, Facebook, Telegram, and Google News