The number of Ethereum addresses holding non zero balance hits a new record high of 92.5 million on Monday.
The rough crypto bear of 2022 with the collapse of some of the big crypto platforms like FTX doesn't appear to have impacted the growth of addresses having non zero balances.
The number of non zero Ethereum addresses is seen as a proxy for Ethereum's broader adoption by some analysts.
Viewing that lense, the continued and seemingly unstoppable rise in the non zero balance Ethereum addresses can be interpreted as a bullish sign for Ethereum in the longer run.
Ethereum has added 20 million non zero balance addresses per year over the last three years.
Thus, according to the back of the fag box calculation, the 100 million address milestone would most likely be reached in Q2 2023 with just about 7.5 million addresses remaining.
The would be big news. Ethereum might get a boost in the run up hitting the mark of 100 million addresses with non zero balances.
However, growth in the number of non zero balance Ethereum is seen by some as an overly crude metric - each new non zero balance Ethereum address doesn't necessarily mean a new Ethereum user. But luckily other metrics also signal Ethereum strong continued growth.
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