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ETH joins the All-Time High Game!

Ethereum holders hit another all-time high today. There are now 51,491,730 addresses that hold the cryptocurrency, according to Glassnode.

The number of Ethereum addresses that hold some measure of ETH has grown steadily this year: by the start of January, there were 34.7M addresses containing ethereum. Now the number is up by 48%.

The growth is down to two things; a healthy market spurred on by institutional investors and the daunting rise of DeFi.

ETH is the second-largest cryptocurrency by market cap; it only makes sense that more people would be holding even just a little of it in a bull run.

Its price is also up, and it’s been steadily growing alongside Bitcoin, which isn’t slowing down when it comes to hitting new all-time highs: today, it hit almost $29K.

According to CoinMarketCap, ETH’s price today stood at $734.25 – a 20% increase from last week.

In order to use the majority of DeFi applications, one must have ETH; as their popularity developed this year, so did the number of addresses that hold the asset.

DeFi indicates all the applications that want to revamp and decentralize the borrowing, lending, and whatever custodial financial institutions do. The number of non-zero ETH addresses had been growing since 2017. This is different from non-zero Bitcoin addresses, which hit high in 2018, then dropped, but are now climbing again.

There are now over 33M non-zero Bitcoin addresses – an increase of 4.8M from the start of 2020.

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