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Bitcoin is still dominant in the cryptocurrency space with data showing that it has staggering 140 times more daily active addresses than Ripple’s XRP.
Bitcoin undeniably continues to dominate the popularity charts among the top cryptocurrencies. However, the flagship token has fewer addresses that have actual coins in them compared to Ethereum. Bitcoin has about three times as many daily active addresses as Ethereum (ETH), according to information from the on-chain market analyst Glassnode. The same data shows that Bitcoin has 11 times more than Litecoin (LTC) and 140 times more than Ripple‘s XRP.
Bitcoin Growing Faster than ETH or XRP
The total number of new Bitcoin addresses being created daily is almost five times that of Ethereum. Interestingly, new bitcoin addresses reached about 470K in 24 hours a day after the third bitcoin halving event. On its part, the Ethereum network recorded an increase of just 90K new addresses daily.
The analysis shows that the number of addresses that hold at least 0.1 BTC is 3,053,970, while those holding over 1 BTC reached all-time highs of 815,698. The previous all-time high of Ethereum at 815,615.000 was observed on 19 May 2020.
95% of the total number of Bitcoin addresses that exist, 626 million, hold zero bitcoin. With such data, it calls into question the state of the network’s real growth.
Ethereum Appears Positive
After the 2017/2018 bull run, millions of Bitcoin addresses were emptied to zero on many occasions. But, the number of Ethereum addresses with a positive balance continued to grow at a continuous rate.
Ethereum has overtaken Bitcoin in the number of ‘non-zero’ since February 2019. Currently, it has about 10 million more than bitcoin. The need to keep addresses with small Ethereum amounts for gas may account for some of that difference.
The total number of active wallets to non-zero wallets on Ethereum and Bitcoin sits at 0.8% and 3%, respectively. Ethereum has millions of more addresses with tokens, while just a third of Bitcoin’s active addresses have balances. It shows that small hodlers and the network users are more inclined to invest in Ethereum while the big hodlers and traders are more likely to invest in bitcoin.