Ethereum Adds Over 6.2 Million Wallets with 0.01-1 ETH Since Early 2021, Despite Price Drop

Ethereum Adds Over 6.2 Million Wallets with 0.01-1 ETH Since Early 2021, Despite Price Drop

Analytics and research company CoinMetrics has tweeted that Ethereum user adoption keeps expanding large and fast and its big scale was not even impacted by the recent price drop of ETH.

According to the recent tweet, since the start of the year a staggering amount of wallets with 0.01-1 ETH in them has been added – more than 6.2 million.

The company’s team comments that despite the negative impact of the recent liquidation of ETH, the coin’s fundamentals remain strong.

Liquidation cascades have dramatic effects on price but don’t change underlying fundamentals. #Ethereum added more than 6.2M addresses holding 0.01-1 ETH year to date.User adoption is growing rapidly and was not meaningfully impacted by the crash.https://t.co/IHZvm2D16q pic.twitter.com/qX2sPEGfDH— CoinMetrics.io (@coinmetrics) September 10, 2021

Meanwhile, validators continue to deposit ETH to the Ethereum 2.0 contract. The total value locked in it has reached a historic peak of 7,534,146 coins, according to the data provided by Glassnode.

Earlier this week, the founder and CEO of SkyBridge Capital, Anthony Scaramucci, shared his take on Ethereum's further growth. He believes that both ETH and Cardano's ADA will keep growing, since there are a lot of use-cases for them now and will be in the future.

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