Ethereum Hits Record Number of Holders with 0.01+ ETH

Ethereum’s number of holders reaches a record number, despite prices being far from all-time highs.

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  • Ethereum reached a new milestone in the number of individual holders. 
  • The metric reflects community support for the project.
  • Ethereum continues to develop innovative solutions to help with scaling issues. 

While crypto prices are far from their all-time highs, the number of holders continues to grow. Recent on-chain data from the Ethereum network demonstrate that.

Ethereum, the world’s second-largest cryptocurrency by market cap, has reached a new milestone in user adoption. 

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The number of addresses holding at least 0.01 ETH reached an all-time high of 23,800,713 on May 1, 2023, according to Glassnode

Ethereum Holder Numbers See Steady Growth

The figure reflects a growing community of Ethereum holders and increased adoption in the Ethereum ecosystem. 

Despite the collapse of crypto prices since 2021, Ethereum is experiencing a steady growth in unique holders. While its price is far below its all-time high of $4,878.26 on Nov 10, 2021, individual holders are reaching record numbers. 

The network saw an all-time high of addresses with 0.01 ETH on 30 April 2023, when the figure reached 23,799,287. At current prices, 0.01 ETH is worth $18

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One factor behind the adoption is the ongoing upgrades in the Ethereum network. The most recent development is the implementation of zk-rollups. These Layer-2 solutions aim to improve the network’s scalability and efficiency, expanding Ethereum’s potential use cases. 

On the Flipside

  • User growth indicates that retail investors continue to buy and hold ETH, even after institutional investors sold off their tokens
  • Even as Ethereum continues to evolve, competitors such as Polkadot, Cardano, and Solana are vying to dethrone it.

Why You Should Care

The number of unique holders is a good indication of how the strength of a crypto community. While institutional investors have an outsized influence on the price, retail investors help maintain a token’s price stability. 

Read more about Ethereum’s latest upgrade:

ZK-Rollups: Unravelling Ethereum’s Scalability Issues

Read about the controversy surrounding the major crypto auditing firm:

CertiK Denies Responsibility for MerlinDEX Rug Pull

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.