The number of non-zero Ethereum (ETH) wallets reaches all-time high

Despite the fact that the Ethereum (ETH) price is still 75 percent below its all-time high set on November 10, 2021, one of its on-chain measures reached all-time highs.

One of the most important measures for Ethereum (ETH), the most popular smart contracts network and second-largest blockchain, breaks a record.

According to Glassnode, the biggest on-chain analytical tool, more than 83,662,470 Ethereum (ETH) wallets have non-zero balances as of today, July 9, 2022.

Typically, this network grows with the adoption of DeFi and dApps. This measure is recorded not only in the wallets of retail consumers but also in the addresses established automatically by DeFis.

The net number of non-zero addresses decreased after the Ether (ETH) price peaked in May 2021. This is the first time in Ethereum’s history that this indicator stopped rising.

Ethereum (ETH) is inching closer to one of its most significant milestones in years, The Merge. This update will transition the Ethereum (ETH) blockchain from Proof-of-Work to Proof-of-Stake consensus.

The Merge was enabled on Sepolia, the new Ethereum (ETH) testnet, on July 7, 2022. The Merge is expected to arrive on Goerli, the last testing network before mainnet activation, in the next weeks.

On major spot trading platforms, the current price of Ethereum (ETH) is $1,218. This is an increase of 1.2 percent in the previous 24 hours.

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