https://ift.tt/3JtYiC0 Of ETH Addresses Holding Some ETH Topped 71 Million

The number of ETH addresses that are holding some ETH coins has reached 71 million and this figure has been steadily growing over the past few years. So, let’s find out more in today’s Ethereum news.

The number of ETH addresses with non-zero balance hit a new high today, similarly to what it did this time last year. There are now 71,364,788 addresses that hold some amount of the second-biggest cryptocurrency by market cap as per Glassnode. At the end of last year, the number also hit an all-time high and since then it is up by 38%. At the time we discussed that the increase came because of the healthy market and the surge in institutional investors. However now with the NFT market playing a big part, this time we can attribute some of the gains because of it. NFTs or blockchain-based tokens can prove ownership of just about anything and they surged in popularity this year as they became much more mainstream.

Most NFTs are minted on the Ethereum blockchain and in order to buy or sell NFTs, you would need an Ethereum address or a wallet. The project lead at UniWhales DAO Matt Aaron who builds Defi analytics data tools and research said:

“NFTs played a huge role in adding new wallets and users to the Ethereum ecosystem. For a good part of the year, OpenSea transactions were taking up more gas than any other dApp.”

The number of non-zero ETH addresses has been growing since 2017 while the non-zero BTC addresses dipped over the years.

As recently reported, Ethereum whales get bullish on the SAND metaverse token as they started investing in a number of other Metaverse tokens as well. The metaverse tokens ranged across various snitches but these whales are growing bullish on metaverse tokens like the rest of the space but one coin is especially popular between these Ethereum whales that took it to increase their crypto holdings in SAND. Ethereum whales are interested in the metaverse SAND token according to the data from WhaleStats. The wallet tracker reported that the token became the most traded coin among the top 1000 ETH wallets and flipped the investor’s favorite LINK to attain a new title and showed an increase in interest from the top ETH holders in the space.