Ethereum Network Grows to 35 Million Addresses, Overtakes Bitcoin

Ethereum (ETH), cryptocurrency number two by market capitalization, now has more unique addresses than its main competitor Bitcoin. Moreover, it turns out that Ethereum has more active addresses as well, which triggered the talks about possible “flippening” among some experts.

etherscan-logo-big

According to Etherscan, the number of ETH addresses has doubled since December 2017. The number continues to grow with the speed of 100,000 new addresses per day. There is no fresh data on the number of unique Bitcoin addresses, but in March the figure was 24 million. The number of unique ETH addresses at the time, in comparison, was 31 million.

The number of unique addresses, however, does not correspond to the number of active users, as one investor can have several cryptocurrency addresses. Each smart contract also has an address of its own. However, when we combine the number of users on Coinbase with users from Japan and South Korea, the result is really close to 35 million. One thing is certain – Ethereum now has more active addresses than Bitcoin, as there are 550,000 active ETH addresses and only 472,000 active BTC addresses. All this data suggests that Ethereum is used more frequently than Bitcoin. To reach mass adoption, however, both cryptocurrencies still need to attract a lot of users.

Leave a Reply