On-Chain Data Shows Number of ETH Holders At All-Time High

The number of Ethereum addresses holding ETH is at an all-time high. Meanwhile, transaction count on the network remains near record highs, showing that user activity continues to grow.

• According to on-chain data, Ethereum addresses holding a balance now total over 68.26 million. This number seldom declined despite a rocky price history last year, maintaining steady growth besides the June to August period.
• Transactions are also trending upward, with the number of daily ETH transactions at approximately 1.2 million. Transaction count peaked in May of last year at around 1.6 million per day.
• These numbers are remarkably steady despite Ethereum’s recent price trajectory. The cryptocurrency is down 34% from its all-time high just 2 months ago.
• By comparison, Bitcoin’s non-zero address count only recently touched 39 million. Its on-chain transaction count has also been relatively stagnant over the last four years, hovering near 250k per day.
• Ethereum wasn’t quite ready for this adoption, however, with average fees above $30 in 2021. Vitalik Buterin has built out a multi-year roadmap for how Ethereum could plausibly solve these scaling issues.
• Long-term, Pantera Capital’s CEO envisions Ethereum influencing 50% of all financial transactions.