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Earlier today, an interesting observation was shared on the Ethereum community on Reddit, which emphasized that there are now over 50 million unique Ethereum addresses. This is a good result for the platform started in mid-2015.
An & # 39; address & # 39; on the Ethereum blockchain, simply speaking, is the string of characters with which your Ethereum portfolio is recognized as. This means that there are now over 50 million Ethereum portfolios. Several new unique addresses are generated every day: on August 6, 2015, the lowest number of unique Ethereum addresses was generated (a time when the platform is very new in cryptographic markets), while the largest number of unique Ethereum addresses ( 352.888) were generated on January 3, 2018: during the period in which Ethereum reached a historical high price.
The growth of Ethereum has been widely attributed to the fact that its platform has a much wider level of practical applications than many other platforms. Moreover, the fact that it is one of the platforms chosen for ICO and also for the implementation of decentralized applications (dApps) also helps the cause. For much of its run in the cryptocurrency markets, Ethereum was the second-rate cryptocurrency, right next to Bitcoin.
Over the last year, Ethereum was expected to even outperform Bitcoins in market capitalization at some point in time, in an event called "Flippening". However, given the current market conditions, this seems to be an unlikely dream. Ethereum no longer holds the second place in the markets, as the currency has shrunk to zero. 3 in the rankings – since the capitalization of Ripple (XRP) has resumed that of Ethereum (ETH).
Ethereum, which has suffered a sharp decline over the course of the year, has fallen from its high historical price of over $ 1,400 to $ 85 at the time of writing this article. The price of the currency has suffered a severe blow and continues to be in red while the cryptocurrency markets are experiencing a strong downward impulse. Currency capitalization has also been affected. At the beginning of this year, when Ethereum was at its highest point, the currency had a market capitalization of $ 133 billion. At the time of writing this article, it came to $ 8.8 billion.
While 50 million unique addresses are an impressive asset for the currency, members of the Ethereum community are trying to be more realistic about things. Some members of the Reddit community have emphasized that some exchanges create one-off temporary addresses for inbound and outbound transactions. This could add to a number of false or even triple duplicates and, therefore, this metric may not be an indicator of reality. However, this is valid for all currencies – and while the numbers may not represent the real picture, the trend is really apt.
Stay tuned with us on Cryptoground for more updates and more recent news from the world of cryptocurrencies and blockchain technology.
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