The number of non-zero addresses on both the Ethereum and Bitcoin network is continually increasing
Both have hit an all-time high of 50.651M for ETH and 32.925M for Bitcoin
Such activity on both networks is a clear sign of investor interest as well as the adoption of each digital asset
Price appreciation is sure to continue for both Ethereum and Bitcoin
The number of non-zero addresses on both the Ethereum and Bitcoin networks has each reached a new all-time high. According to on-chain data from the team at Glassnode, the number of non-zero addresses on the Bitcoin network just reached a new all-time high of 32,925,521. Below is a chart courtesy of Glassnode demonstrating the impressive growth of Bitcoin addresses since 2009.
In the case of Ethereum, the number of non-zero addresses has reached an all-time high of 50.656,493. Below is a chart also from Glassnode, demonstrating the growth in the number of non-zero addresses on the Etheruem network.
Investor Interest and Adoption: 2 Reasons BTC and ETH Addresses are Increasing
From both charts, it can be observed that the number of Bitcoin and Ethereum addresses are following the normal trajectory of an S Adoption Curve. From the charts, it can also be concluded that adoption is yet to reach the plateau phase which means that we are still in the early phase of the crypto industry.
Veteran Bitcoin analyst, Willy Woo, recently commented on the adoption of Bitcoin and pointed out that it is growing faster than any technology infrastructure to date.
The adoption curve of Bitcoin is faster than any other global infrastructure rollout before it. It’s growing faster than the rollout of the Internet, mobile phones, and easily faster than “virtual banking” players like PayPal.
Investors who have seen the potential of both Bitcoin and Ethereum through the current rate of adoption, are also busy scooping up BTC and ETH thus contributing to an increment in non-zero addresses on both networks.
As with adoption, it is still early to invest in either Bitcoin or Ethereum. Anyone considering investing in Bitcoin and Ethereum right now should find some reassurance that the CEO of Binance, CZ, made a similar conclusion back in May, about being early in the game. His exact words were as follows.
Everyone I have met that got into #crypto, thinks they got in too late, no exceptions, myself included, until 5 years later.
I expect the same will be true in 2025. We are still early in the game.
Not financial advice. And don’t trade if you are not a trader. #hodl.