Ethereum Surpasses Bitcoin In Adoption: +3.3% Holders

For the past few months, Ethereum has consistently stood out in the crypto market. While Bitcoin stagnates, Ethereum’s growth is indeed accelerating. This refers to a notable increase in the number of holders, a key indicator of its adoption.

📈 Ethereum continues to separate itself from Bitcoin in terms of wallet growth:

🪙 Bitcoin: 54.18M Total Holders (-0.1% in 3 Months)
🪙 Ethereum: 126.96M Total Holders (+3.3% in 3 Months)
🪙 Tether: 5.99M Total Holders (+4.0% in 3 Months) pic.twitter.com/C1QSrcRIO1

— Santiment (@santimentfeed) September 3, 2024

Ethereum attracts millions of new investors

Recent data published by Santiment shows that Ethereum adoption has jumped by 3.3% over the past three months. This figure translates to 4 million new addresses created on the Ethereum blockchain. This brings the total number of holders to nearly 127 million.

This influx of investors reinforces the idea that Ethereum is consolidating as a major platform, notably thanks to its rich crypto ecosystem. This includes:

• smart contracts,
• DeFi (decentralized finance),
• NFTs.

Unlike ETH, Bitcoin stagnates

Sure, Bitcoin is the oldest and most well-known cryptocurrency. Nevertheless, its adoption seems to be slowing down. Since 2021, the number of Bitcoin holders has indeed been moving sideways. With only 54 million holders, it saw its number of addresses drop by 50,000 during the same period.

This decline raises questions about Bitcoin’s ability to maintain its attractiveness in the face of Ethereum’s rapid rise.

Are Ethereum’s growth prospects sustainable?

The number of Ethereum holders continues to grow, which is seen as a bullish signal for the ETH crypto. However, some analysts wonder if this dynamic is sustainable in the long run. The arrival of a major network upgrade could further increase the platform’s appeal:

• by solving scalability problems,
• by reducing transaction fees.

The BitMart Private Client Spokesperson expressed concerns:

Many crypto investors are calling it time to buy the altcoin bottom. If all conditions were ideal, this might indeed be the time to buy. But with so much uncertainty, it is wise to trade conservatively and wait for more obvious entry signals.

Investors must still remain cautious. The inherent volatility of the crypto market could affect the value of ETH in the short term. At the time of writing this article, this crypto-asset is trading around $2,400. The price is recording a 4% decline over the past 24 hours.

In any case, Ethereum’s growth confirms its central role in the crypto ecosystem.