Recent findings from on-chain analytics provider Glassnode have highlighted the comparative metrics of cryptocurrency holders, focusing on Bitcoin, Ethereum, and various other leading digital currencies.
Ethereum Surpasses Bitcoin and Others in Holder Numbers
In a detailed update on X, Glassnode outlined the current figures for Total Amount of Holders across Bitcoin, Dogecoin, and several altcoins. This metric reflects the count of unique wallets holding at least a minimal balance on the specific blockchain.
An upward trend in this statistic may indicate a fresh influx of investors entering the market, as well as former investors returning to the fold. Additionally, existing holders might create multiple wallets for enhanced security or better management of their assets.
Generally, any rise in the Total Amount of Holders can suggest a growing acceptance of cryptocurrency among users. Conversely, a decline could indicate that some users are liquidating their holdings, signaling a retreat from the market.
The accompanying chart from Glassnode presents the trends for holder counts across a selection of cryptocurrencies:
As illustrated above, Ethereum holds a commanding lead in Total Amount of Holders, reported at an impressive 175 million. In stark contrast, Bitcoin’s user base comprises about 63 million wallets—approximately one-third of Ethereum’s total.
This significant disparity is likely attributed to Ethereum’s rich ecosystem of decentralized applications (dApps) and layer two solutions, all empowered by its robust smart contract capabilities.
The gap between Bitcoin and the next substantial coin is even more pronounced, with Tether (USDT) managing 10 million active wallets. Following USDT, other altcoins are in closer contention.
Dogecoin and XRP rank fourth and fifth in holder numbers, with about 9 million and 8.5 million non-empty wallets, respectively.
The data reveals that while Bitcoin’s holder counts have remained relatively stagnant over the past year, Ethereum continues to show consistent growth in its user base.
This upward momentum for Ethereum can also be observed through another metric provided by the analytics firm, called Active Address Growth. This indicator tracks new unique addresses being generated on the Ethereum blockchain.
The chart indicates a remarkable surge in Active Address Growth, with Ethereum recently averaging around 170,000 new addresses daily, an increase from 130,000 in July, according to Glassnode.
Current BTC Market Value
As we analyze the current market, Bitcoin is trading at approximately $87,500, showcasing a slight decrease of around 2% over the past week. Monitoring price trends is crucial for understanding market dynamics.
