Total Ethereum addresses reached 18.36M in 2021

According to new research, the Ethereum addresses network gained 18.36 million addresses in 2021 with a balance greater than zero. This translates to a remarkable monthly growth rate of 1.53 million new addresses, but competition for market share is becoming increasingly fierce.

Except for the 0x prefix, Ethereum addresses can contain the following characters: 0–9 and [a-fA-F]. Eth address example (in Hexadecimal): 

ETH Address: 0xDC25EF3F5B8A186998338A2ADA83795FBA2D695E 

Although Ether (ETH) reached two new all-time highs in price in 2021, the rate of generation of new addresses was not notably correlated with price surges. Since October, the Ether network has received approximately 10 million addresses.

Active Ethereum Addresses

While the overall numbers are increasing, the fraction of active Ethereum addresses on the network is decreasing. For example, on January 1, 2021, active Ethereum addresses accounted for 1.05 percent of all addresses; they peaked at 1.66 percent on April 25 but have subsequently risen to 0.86 percent since February 15. 

Since the beginning of 2021, the number of whales holding more than 1,000 ETH has also decreased. Glassnode, an on-chain analytics firm, announced on Feb. 13 that whale wallets had dropped to a 4-year low of 6,226.

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Price Stability

According to Ethereum addresses list statistics aggregator Ycharts, the average daily volume of transactions has remained stable at around 1.2 million since the middle of December. High gas costs and alternatives like Ethereum’s less expensive and often faster sidechains and Layer-2 services may be factors. Sameep Singhania brought this up in an interview with Cointelegraph Magazine on why he chose Polygon to build Quickswap.

The Polygon (MATIC) sidechain has completely balanced more than double the daily deal volume of Ethereum since the astonishing rise in use last May. As a result, polygon now boasts a daily transaction volume of around 3 million.

Popularity

By total wealth locked (TVL) in the environment, Ethereum remains the most popular innovative contract platform. According to Defi Llama, Ethereum currently has $124.24 billion in TVL, much more than Terra (LUNA), which has $15.04 billion.