The adoption of crypto assets has a very strong explosive trend in 2021 which has led to a significant increase in users investing in Ethereum. ETH is proud to be one of the projects owning the highest number of investors globally.
Glassnode recently reported that the number of Ethereum wallets has set a new record. Those wallets with no non-zero balances have continued to grow throughout 2021 and are up more than 30% from their previous high from 2020. There are currently 71,364,788 wallets with balances above zero.
Around this same time last year, Ethereum set a similar record as the number of non-zero ETH addresses rose above 51 million. This is an important milestone for the network as it shows strong acceptance coming from the market at a time when the bull cycle is just entering its infancy.
The emergence of large institutions, new spaces such as decentralized finance (DeFi) and NFT have played a huge role in the demand for ETH by users, thereby driving the price of ETH to grow strongly.
On the other hand, with DeFi, users can take advantage of untethered financial opportunities. Borrowing is an example. Instead of going through a rigorous loan application process with a traditional bank, crypto investors can easily get the funds they need within minutes by going through the DeFi lending protocol.
Not only that, Compound Interest, APY, APR are terms that are becoming more and more popular, considered as the first wonder in DeFi, which can help investors access new profitable opportunities. that was never there before.
Meanwhile, NFT has also given its users a degree of financial freedom. However, the majority are content creators, benefiting from the above market. Artists often have to go through a broker to view and sell their work online, and then receive all the proceeds into a personal wallet.
However, the number of non-zero ETH addresses has been on the rise since 2017. This is different from non-zero Bitcoin addresses, which peaked in 2018, then dropped and is now rising again. There are now just over 33 million non-zero Bitcoin addresses, up 4.8 million from the start of the year.
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