Ethereum (ETH) Surges Past ‘Milestone Moment’ for Crypto Adoption, According to Analytics Firm IntoTheBlock
Crypto analytics firm IntoTheBlock says that Ethereum (ETH) has just hit a “milestone moment for crypto adoption.”
The firm notes Ethereum officially crossed 100 million addresses with a balance.
Fellow crypto analytics firm Glassnode reported that the number of non-zero ETH addresses was more than 100,000 back in July, but IntoTheBlock says it excluded “dust” addresses with balance values less than 0.00001 ETH.
“We believe those addresses shouldn’t realistically be counted for this metric to be significant.”
ETH is trading for $1,569 at time of writing. The second-ranked crypto asset by market cap is down more than 67% from its all-time high of more than $4,800, which it hit in November 2021.
IntoTheBlock also notes that Ethereum is clocking around 961,000 average daily transactions, which is 36% down from its peak level of 1.51 million.
Bitcoin (BTC), by comparison, is registering around 273,000 average daily transactions, which is 53% down from its all-time high level of 586,000.
According to the analytics firm, however, Bitcoin is held for an average time of 4.2 years, which is twice the length of Ethereum.
“Did you know that the average holding time for Bitcoin is 4.2 years? That’s twice as long as ETH and Doge!”
BTC is worth $28,680 at time of writing. The top-ranked crypto asset by market cap is more than 58% down from its all-time high of more than $69,000, which it hit in November 2021.
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