The growth of crypto adoption and popularity has increased widely across the world. Several cryptocurrencies have earned holders since the beginning of this year. Additionally, the second-largest cryptocurrency, Ethereum, has now increased more in adoption. The active non-zero Ethereum address holders have surged in numbers.
According to on-chain data from Glassnote, the active ethereum addresses have attained an all-time high of 71,364,788 as of December 9th. As a matter of fact, Ethereum boosted in price in the second and third quarter of this year so this would have helped in earning more holders. Moreover, the platform’s use in other sparking sectors DeFi and NFT would have also contributed to the increase of addresses.
At one point, ETH initiated a huge surge hitting 400% since the start of this year. While ETH also achieved its new ATH above $4880 within the short-term which triggered the traders to invest in ETH. Additionally, the increasing number of active Ethereum addresses could indicate that more investors are storing the cryptocurrency in preparation for a bull run.
Ethereum Hits High
As the Ethereum network reaches multiple levels of achievements in 2021, it piqued the interest of the investors. Furthermore, Ethereum issued the Altair upgrade on the PoS Beacon Chain in October 2021, bringing the ETH 2.0 migration with staking capabilities closer. Deposit contracts reached a new all-time high of 8,662,786 ETH on December 15, 2021, indicating that the ETH 2.0 upgrade is already generating considerable interest.
The notable part of this bullish run is that despite the high gas fees the adoption of ETH has been increased. Though ETH still has some challenges, traders and investors are attracted to it as they knew the potential of this platform. Besides, these challenges are expected to overcome switching from the present proof-of-work (POW) framework to the proof-of-stake (POS) consensus method.