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▲ Bitcoin (BTC), Ethereum (ETH) ©Dasol Ko
Ethereum is outperforming Bitcoin, further widening the user base gap—looking solely at the number of holders, there is already more than a 3x difference.
According to the cryptocurrency media outlet Bitcoinist on April 29 (local time), on-chain analytics firm Santiment stated that the number of Ethereum (ETH) holders has reached approximately 189.5 million addresses, significantly surpassing Bitcoin (BTC). This is based on the number of wallet addresses with a balance, which is considered a key indicator for gauging actual network users.
Bitcoin recorded approximately 59.1 million addresses by the same standard, showing a stagnant increase in recent months. In contrast, Ethereum continues its steady growth, further widening the adoption rate gap.
This difference is analyzed to stem from Ethereum's expanded ecosystem. The explanation is that user inflow is continuous as DeFi and various services are activated based on its smart-contract-based structure. In particular, stablecoin usage accounts for a large proportion, with Tether (USDT) recording 13.6 million and USD Coin (USDC) recording 6.8 million holder addresses.
Among altcoins, Dogecoin (DOGE) recorded approximately 8.3 million addresses, surpassing XRP (Ripple) and Cardano. Overall, it has been confirmed that network utility and actual use cases directly impact the growth in the number of holders.
Meanwhile, Ethereum's price is showing a short-term correction, falling more than 2% in the last 24 hours to around $2,270. However, as long as the trend of increasing holders continues, it is still evaluated as maintaining a strong foundation in terms of network adoption.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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