Getting cryptocurrency into the hands of more people is absolutely crucial, For some currencies, this appears much easier than others. As far as Ethereum is concerned, there are now nearly 10 million addresses holding more than 0.01 ETH.
Ongoing Ethereum Growth
Even though Ethereum will not overtake Bitcoin as the world’s leading cryptocurrency right now, it is proving to be a popular currency. Looking at the number of addresses holding at least 0.01 ETH, there is significant overall growth. In fact, it is the second time in two days a new all-time high value is reached in this regard. More and more people are intent on owning at least a minor portion of one Ether, which is rather interesting to keep an eye on.
On the surface, this indicates more and more people are diversifying their portfolio. Cryptocurrency isn’t just about Bitcoin, regardless of its market position. There are other currencies and ecosystems well worth exploring. For many, Ethereum seems to be on that list, even if it is just a minor part of one’s portfolio. There are many reasons to own Ethereum, primarily when it comes to everything the ecosystem has to offer.
With the growing focus on DeFi and dApps, Ethereum certainly has a competitive edge. It seems to be positioned better than Bitcoin or most of the altcoins on the market today. From a developer point of view, Ethereum continues to be worthwhile. Even though it will require implementing more layer-two solutions, it is evident that big things are bound to happen. There is also the growing 32 ETH club to keep an eye on.
Inflation Plays a Role
It is pertinent to point out Ethereum generates new coins very differently from Bitcoin. The world’s leading cryptocurrency recently went through a block reward halving. This cuts the number of newly available BTC per day in half. For Ethereum, its issuance is a bit different, While fewer coins are issued per block, the network generates blocks every 13-ish seconds. For Bitcoin, only 1 block is created every 10 minutes, containing 6.25 BTC.
As such, the inflation rate of Ethereum is much higher compared to Bitcoin, Considering how it also has over 5 times the supply of Bitcoin – and it keeps growing quicker – it becomes easier to effectively own 0.01 ETH. This skews the numbers a bit, but it is important to be aware of these things at all times. Even so, there appears to be a healthy interest in Ethereum.