95% of the addresses in Bitcoin network contain 0 balances

by in Cryptocurrency News

Glassnode Bitcoin research

Bitcoin continues to be the most popular digital asset, outperforming its competitors in many respects, however, there are fewer addresses with positive balances in the first crypto network than in the Ethereum network.

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According to Glassnode, the number of active bitcoin addresses on a daily basis is three times that of Ethereum, 11 times that of Litecoin, and 140 times that of Ripple.

In addition, five times more addresses are created on the Bitcoin network daily than on Ethereum. For example, 24 hours after the halving that took place earlier this month, almost 470 thousand addresses were created, while on the Ethereum network this figure was 90 thousand.

Analysts also noted that on the eve the number of wallets with more than 1BTC reached the maximum indicator in the history of bitcoin 815 698.

At the same time, the true growth of the network casts doubt on the fact that out of 626 million addresses in the bitcoin network, 95% have zero balances.

After the rally in 2017, millions of bitcoin addresses were devastated many times, at the same time, the number of ETH addresses with positive balances was growing steadily. Since February 2018, Ethereum outperformed the first cryptocurrency in the number of such wallets, today it is 10 million addresses ahead of it in this indicator.

This can be partially explained by the fact that ETH users need to have addresses with a small amount of coins for gas.

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Thus, based on the fact that the Ethereum network has significantly more addresses with balances higher than zero, but at the same time is inferior to BTC in the number of active addresses, it can be assumed that users are more likely to invest small amounts in ETH. Famous hodlers and traders at the same time prefer bitcoin.