Bitcoin’s daily active addresses leave XRP in the dust

Bitcoin’s daily active addresses leave XRP in the dust
Written by:
Ali Raza
21st May, 12:10
  • Recent data shows that Bitcoin still leads when it comes to the number of daily active addresses.
  • The coin has three times more than ETH, 11 times more than LTC, and 140 of them more than XRP.
  • Bitcoin still loses when it comes to the number of addresses that hold any amount of coin.
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Bitcoin (BTC) is the first and largest cryptocurrency, and so the fact that it is also the most popular one is not that surprising. However, its popularity is not ultimate, and it is often compared to other top coins to determine which one is in the lead.

For example, when compared to Ethereum, Bitcoin loses when you consider the number of addresses with coins inside, and this has been the case for a while. This likely comes due to ETH’s use cases within the crypto industry, such as paying for smart contracts, investing in coins, the use of dApps, and alike.

Bitcoin’s daily active addresses skyrocketed post-halving

However, comparing Bitcoin’s active addresses shows an entirely different situation, as was recently shown by data provided by Glassnode. The popular on-chain market analyst revealed that Bitcoin is definitely in the lead when it comes to the number of daily active addresses. It beats Ethereum by having three times as many, and it beats Litecoin by having 11 times as many.

However, when Glassnode compared BTC daily active addresses to those of Ripple’s XRP, it found that Bitcoin has 140 times more of them than the third-largest crypto.

New Bitcoin addresses are emerging every day, and in a rather impressive number. Bitcoin sees five times more addresses per day than Ethereum. Only one day after Bitcoin halving took place 10 days ago, BTC saw 470,000 new addresses within 24 hours. Ethereum, on the other hand, only saw 90,000 new addresses during the same period.

Ethereum in the lead for non-zero addresses

Glassnode also shows that the number of addresses that contain more than 0.1 BTC reached the all-time high of 3,053,970. Meanwhile, the number of addresses that contain 1 BTC or more exceeded 815,698 by the time the report was published.

However, there is still a colossal number of BTC addresses that hold no BTC at all — 626 million. This represents around 95% of all BTC addresses in existence, so the question of whether this is true growth still remains open for debate.

Millions of addresses got emptied after the 2017 bull run, which is not the case when it comes to Ethereum. ETH addresses that hold some amount are on a steady rise, and Ethereum exceeded BTC in terms of addresses that hold some amount of coin in February last year.

Right now, Ethereum leads with 10 million non-zero addresses more than Bitcoin. But, it is also worth noting that many people who trade Ethereum (ETH) have multiple addresses with small amounts needed for gas.

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