- There were 6,226 whale wallets as of February 13, a 4-year low.
- Since October, the network has added around 10 million unique addresses.
According to new statistics, the Ethereum network added 18.36 million accounts with a balance of more than zero in 2021. That comes out to an incredible growth rate of 1.53 million new addresses every month, but the fight for market share is growing more intense. Tweeted on February 15, blockchain analytics startup IntoTheBlock released its conclusions concerning Ethereum’s value.
#Ethereum users growth in a nutshell
— IntoTheBlock (@intotheblock) February 15, 2022
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🤯 pic.twitter.com/xnhDw3wHVm
After two all-time highs in the price of Ether (ETH) in 2021, the growth rate of new addresses was not much associated with the rise or fall of prices. Since October, the network has added around 10 million unique addresses.
Still the Most Popular Smart Contract Platform
Despite an increase in total numbers, the percentage of network addresses actively using services has decreased. On January 1, 2021, active addresses accounted for 1.05 percent of all addresses; by April 25, they had risen to 1.66 percent; as of February 15, they had declined to 0.86 percent.
Since the beginning of 2021, the number of whales with more than 1,000 ETH has also decreased. There were 6,226 whale wallets as of February 13, a 4-year low, according to on-chain monitoring company Glassnode.
According to Ethereum data aggregator Y charts, the daily average transaction volume has been stable at roughly 1.2 million since the middle of December. Alternatives such as cheaper and often quicker sidechains and Layer-2 solutions on Ethereum and the high gas prices may play a role in the decision.
In terms of total value locked (TVL), Ethereum is still the most popular smart contract platform. Defi Llama, an on-chain statistics platform, reports that Ethereum has $124.24 billion in TVL, which dwarfs second-place Terra (LUNA) with $15.04 billion.
