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Bitcoin Continues to Outperform Altcoins in Terms of Aggregate Active Addresses

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Bitcoin Continues to Outperform Altcoins In Terms of Active Addresses

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  • Data collected by Glassnode shows that Bitcoin has 3 times more active addresses than Ethereum and 140 times more than XRP.

Bitcoin continues to remain the dominant cryptocurrency in the market in terms of popularity and value. The data gathered by on-chain data analysis platform, Glassnode indicates that Bitcoin outperformed all the altcoins in terms of the number of active addresses with almost thrice as that of Ethereum (ETH), 11 times more than Litecoin (LTC) and about 140 times more than that of Ripple (XRP).

Glassnode also released statistics comparing the number of new addresses being created on a daily basis. As per the data, the number of new addresses created on the Bitcoin network on a daily basis is nearly five times that of Ethereum’s. There was a surge in the number of Bitcoin addresses created post halving to almost 470,000.

The number of BTC addresses holding more than 0.1 BTC stood at the all-time high of 3,054,035 as of 22 May 2020. The addresses holding more than 1 BTC reached the all-time high of 816,516 as observed on the midnight of 22 May 2020.

However, it is important to note that 95% of the total Bitcoin addresses to ever have existed carry 0 BTC. Conversely, there has been a steady growth in the number of Ethereum addresses with non-zero holdings.

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