Home Uncategorized Ethereum Unique Wallet Addresses Break 50 Million but Active Addresses Still Fall

Ethereum Unique Wallet Addresses Break 50 Million but Active Addresses Still Fall

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Ethereum (ETH) remains as one of the cryptocurrencies with the largest user base with its number of unique wallet addresses breaking 50 million. However, it is unsure whether the number was reached on the 14th or the 15th of December 2018, since there seems to be an error in the dates shown on the ‘Ethereum Unique Address Growth Chart’ at etherscan.io.

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Ethereum Unique Address Growth Charts showing inverted dates. Source: etherscan.io

No matter the date, it is an incredible feat by the cryptocurrency to be able to exceed 50 million unique wallet addresses. The number of ETH crypto wallets was less than 20 million at the beginning of the year, but on 4 January 2018, the cryptocurrency had its maximum wallet daily increase of 352,888. After that, the growing trend of its wallets addresses never stopped to reach the remarkable amount of 50,053,156 in December 2018.

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Ethereum Unique Address Growth Chart showing maximum daily increase of 352,888 on January 4, 2018.Source: etherscan.io

Compared to the number of unique wallet addresses, the number of active wallets may be considered more significant to represent how well a cryptocurrency is doing. According to coinmetrics.io, the number of unique sending and receiving addresses involved in transactions on a certain day are considered as active addresses. 

According to the ‘Ethereum Active Addresses Historical Chart’ on the website bitinfocharts.com, the number of active Ethereum addresses peaked on 4 January 2018 at 1.1185 million and proceeded to decreases steadily until April 2018. There was a slight recovery period from April to June, but numbers continued to decrease after that. Active ETH wallet addresses have remained lower than 400 thousand after September 2018 until the current month of December, showing a number of 305.974 thousand on 18 December 2018.

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Ethereum Active Addresses Historical Chart Showing Peak on January 4, 2018. Source: butinforcharts.com

The year 2018 is ending with no obvious signs of the cryptocurrency market rebounding from its decline. The only optimistic news the market has is the fact that despite falling prices, its user base still manages to grow and is seen as some to be the reason the crypto market will regain its glory in the near future.

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