A total of 18.36M Ethereum addresses added to the network in 2021

Ethereum addresses Growth 

Since last year, Ethereum addresses have steadily increased, but daily transactions volumes and whales are in decline.

Ethereum’s network acquired 18.36 million addresses with a balance greater than zero in 2021, according to new data. The growth rate works out to 1.53 million new addresses per month, but the competition to gain market share is getting increasingly fierce.

According to a tweet posted on February 15, blockchain intelligence firm IntoTheBlock noted its findings on Ethereum.

While the price of Ether (ETH) reached two new all-time highs in 2021, the growth rate of new Ethereum addresses did not follow suit. Since October, more than 10 million addresses have been added to the network.

Ethereum addresses Active Ratios. 

The overall number of addresses is up, but the proportion of active addresses on the network has decreased. On January 1, 2021, active addresses accounted for 1.05% of all addresses, peaked at 1.66% on April 25 and have since fallen to 0.86% as of February 15. 

There is also a fall in the number of whales with more than 1,000 ETH since 2021. According to Glassnode, the number of whale wallets dropped to 6,226 last week, a 4-year low.

According to Ycharts, the average transactions per day has been stagnating around 1.2M since the middle of Dec. Ycharts is the Ethereum statistics aggregator. The high gas costs and the alternative options of cheaper and often faster sidechains and Layer-2 solutions on Ethereum may play a role. Sameep Singhania cited this as one of the reasons he chose Polygon for building Quickswap.

Due to the soaring usage last May, the Polygon (MATIC) sidechain has posted daily transaction volumes of more than double Ethereum. At present, Polygon has about 3 million daily transactions.

 SpookySwap

The SpookySwap team saw the advantages of building on a sidechain instead of on the Ethereum mainnet. Based on Fantom Opera (FTM) L2 technology, SpookySwap is a decentralized exchange. The Fantom team explained, “Fantom provides a great opportunity for DFI users by enabling them to transact faster and pay significantly lower gas fees.”

By total value locked (TVL), Ethereum remains the most popular innovative contract platform in the ecosystem. Defi Llama, an on-chain statistics platform, shows Ethereum currently holds $124.24 billion in TVL, far outstripping Terra with $15.04 billion.

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