- The number of addresses holding some measure of Ethereum continues to climb.
- Today it hit a new all-time high of 51.4 million.
- This is down to the bull run and DeFi.
The number of Ethereum addresses holding some measure of ETH has grown steadily all year: at the start of January, there were 34.7 million addresses holding ETH. That figure is now up by 48%.
Previous ATH of 51,487,512 was observed earlier today
— glassnode alerts (@glassnodealerts) December 30, 2020
ETH is the second-biggest cryptocurrency by market cap, so it makes sense that more people would be holding even just a little bit of it during a bull run.
ETH’s price today stood at $734.25—a 20% increase in the past week, according to CoinMarketCap.
You need ETH in order to use the majority of DeFi applications; as their popularity blew up this year, so did the number of addresses holding the asset.
DeFi refers to all the applications that want to revamp—and decentralize—borrowing, lending and whatever else custodial financial institutions do.
There are now little over 33 million non-zero Bitcoin addresses—an increase of 4.8 million from the start of the year.