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▲ Bitcoin (BTC), Ethereum (ETH) ©Go Da-sol
Ethereum is dominating Bitcoin, further widening the user base gap—in terms of the number of holders alone, the difference is already more than threefold.
According to the cryptocurrency specialized media Bitcoinist on April 29 (local time), on-chain analysis 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 stagnation in growth over recent months. In contrast, Ethereum has maintained a steady increase, further widening the gap in adoption speed.
This difference is analyzed to stem from Ethereum's expanded ecosystem. With the activation of DeFi and various services based on its smart contract infrastructure, user inflow continues. Stablecoin usage, in particular, accounts for a significant portion, with Tether (USDT) recording 13.6 million holder addresses and USD Coin (USDC) recording 6.8 million.
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 influence the expansion of holder numbers.
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 holder numbers 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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