Data: The number of active addresses on Ethereum is growing almost twice as fast as Bitcoin
Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Babbitt Information (ID: bitcoin8btc)
Main points:
Babbitt Information (ID: bitcoin8btc)
, Author: Greg Thomson, Translator: Xi Yu, published with permission.
Main points:
The number of active addresses on Ethereum is growing at a faster rate than Bitcoin.
...and Ponzi schemes.
The number of active addresses on Ethereum has increased by 118% since the beginning of the year, according to blockchain analytics site Messari. In comparison, the number of active addresses for Bitcoin has increased by 49%.
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Ethereum’s unique active address growth significantly outpaced Bitcoin’s in 2020. Image: Messari
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Ethereum's DeFi Boom
The rise of DeFi applications on Ethereum pushed the total number of unique addresses on the Ethereum blockchain to over 100 million by early June. A July report by Dapp.com estimated that DeFi applications account for more than 97% of all Dapp volume on Ethereum.
The number 100 million represents every unique address used in an Ethereum transaction, both sender and receiver. Obviously, this does not reflect those users using multiple addresses, and therefore does not fully reflect the growth of Ethereum's user base.
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More conservative data from Bitinfocharts also shows that ETH addresses are growing rapidly. Image: Bitinfocharts
At the same time, the number of unique active addresses for Bitcoin has simultaneously increased by 42%, from 585,047 on January 1 to 832,751 on July 10. This fits well with Messari’s data and proves that Ethereum is currently experiencing a spike in interest and activity.
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Securities and Ponzi scheme projects occupy Ethereum network resources
However, while the rise of DeFi has undoubtedly contributed to the proliferation of unique Ethereum addresses, another Ethereum-based Dapp may also play an important role.
As Decrypt reported on July 5, Forsage, the most popular Dapp by number of users, accounts for nearly 13% of Ethereum’s gas consumption. Gas is the "fuel" that runs Ethereum and is used as a measure of the price of performing computations on the network.
