Ethereum’s number of addresses holding 1+ coins reached 1,170,598 on Friday, according to Cointelegraph. Ether traded at over $500, continuing a strong upward trend that started in early November. The current price represents a two-and-a-half-year high, outperforming Bitcoins this year.
- The high number of Ether holders reflects the popularity of decentralized finance and associated tokens that use the Ethereum network.
- Ether rise also fueled by the launch date for Ethereum 2.0 Phase 0, currently set for December 1
- Ethereum co-founder Vitalik Buterin has been encouraging the community to expect significant improvements on the scaling and networking development front.
- Individual Ethereum users can create multiple wallet addresses, meaning that the 1.17 million figure does not accurately map 1:1 to the number of users or entities.
- While the value of many individual tokens has declined relative to their earlier bull runs, the total dollar value locked in Decentralized Finance (DeFi) remains strong at $14.05 billion.
Ethereum and Bitcoin are currently gaining. ETHUSD is up 7.36%, BTCUSD is up 5.14%
