Ethereum Reaches New Achievement In Bear Market

Ethereum, the Cryptocurrency which created the Initial Coin Offering opportunity to the world, and brought decentralised applications to the forefront has achieved a new feat. According to data from Etherscan.io the unique Ethereum addresses has passed 50 million, which is a mind mind-boggling amount for any Blockchain network.



                                                                                               Image Source – Etherscan.io


As seen in the chart above the number of wallets started rising rapidly from quarter 4 of 2017. It jumped straight from 10 million to 20 million by the beginning of 2018. The year 2018 has seen the addition of 30 million plus new addresses which is a phenomenal growth even though Ethereum has not succeeded much and been bearish throughout the year.

Ethereum recorded the highest number of addresses in January 2018, where more than 350,000 addresses were created in a single day. However presently, only 70,000 new addresses are added which is quite many but not as much as it’s all-time high.

One saddening occurrence for Ethereum is that only 0.46% of unique addresses are active compared to he 3.5% in January 2018.

At the time of writing Ethereum is third-ranked, priced at $95.68 and a market capitalisation of $9,936,521,410. It is still struggling to beat Ripple to take back the second-ranked spot, with Ripple leading in market capitalisation by a huge margin. Ripple’s market capitalisation is at $13,286,582,590.

Zerocrypted Opinion

Ethereum may not have had a great 2018. However certain technical gurus such as Steve Wozniak from Apple and Eric Schmidt from Google believe in Ethereum. The two known personalities have highlighted the platform’s benefits and the potential it has in the long run.

Then again a cloud of fear pours in when comparing the all-time high of Ethereum when it was $1,417.38, and it’s present value ranging between $90 and $100.

Image Source – Pixabay