The number of ETH wallets reaches 100 million, and the activity of the Bitcoin network continues to decline

The number of ETH wallets reaches 100 million

The number of wallets on the Ethereum network has reached 100 million for the first time in five years of cryptocurrency existence, said Ryan Sean Adams, founder of Mythos Capital.

He pointed out that this reflects the massive adoption of Ethereum, and compared crypto wallets to bank accounts. The former are independent of states and companies, are available anywhere in the world and belong only to their owners. Adams also compared ethereum to the internet:

“Ethereum doing to value what the internet did for communication,” he explained.

For comparison, he gave a graph of the growth in the number of websites — the level of 15 million was reached only 15 years after the mass launch of the Internet.

Bitcoin network activity continues to fall

The daily transaction volume in the Bitcoin network fell to a three-month low. According to Glassnode, over the weekend the rate dropped to 1,830 BTC. The previous minimum was set in early May at around 1,883 BTC.

At the same time, the level of the average commission is falling: on May 20 it reached a two-year low of $6.64, and the other day fell to $ 1,007. This also indicates a decrease in the activity of the bitcoin network.

120,000 addresses ready for Ethereum 2.0 staking

The number of addresses with a balance of more than 32 ETH has exceeded 120,000, Arcane Research reports. That’s how many coins are needed to participate in the staking of the second version of the network, which is supposed to be launched in the fall.

Arcane Research added that since the beginning of the year the rate has grown by 13%. Ethereum 2.0 implies a switch from Proof-of-Work consensus to Proof-of-Stake. To start a node, you need to keep at least 32 ETH in your wallet — this will allow you to earn on staking.

However, some services allow you to join the staking, having less than this amount on the account. Members of the crypto community fear that this will lead to the centralization of the ETH 2.0 network.




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