Ethereum’s price experienced a spike above $300 just recently. This has led to some curious developments as data shows that there are now more ETH addresses making profit than there are addresses holding Bitcoin in total.
Statistics show that ETH addresses on plus is around 31.86 million, while there are about 30.83 million addresses with a Bitcoin balance overall.
The last time Ethereum had a price above $300 was a year ago, and the metrics of the network have improved substantially since then. The Defiant reported that there are millions of addresses that have been loaded up with ETH on prices below $300. Many of them even got the cryptocurrency at a bargain below $200 when the asset got a low point attractive for investment in March and April this year in the context of the COVID-19 pandemic.
When in July 2019 ETH was traded at similar prices, only about 50% of the addresses, or 13.5 million, were making a profit.
The number of “hodlers” of the cryptocurrency, or people who hold to it for over a year, has increased with 10 million in the last twelve months.
A big reason for the growing popularity of Ethereum is the tokenization of Bitcoin on the network. This refers to Bitcoin that are used with apps based on the ETH and ERC-20 standard. Many holders took advantage of this option no wanting to miss out on the action on the ETH network.
